On AUD/CAD price chart, the price line has recently broken below the bullish channel that was earlier formed on the chart, impowering the possibility of an upcoming bearish wave that can drive the price line into lower levels. The cyan ascending expanse resembles the mentioned ascending channel and it can be seen on the chart, the price line is already below this channel and is tending to have a retest of the bottom line, after which sellers can take the control and push the price line to the support levels mentioned below.
• There is a resistance level at 0.93555 followed by resistance at 0.93810 and 0.94175
• There is a support level at 0.92479. Below, there is 0.92385 and 0.92280.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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