The AUDCAD remains indecisive below 0.9100. However, the downtrend that began in April has stalled some following the September bounce. Is the recent price action indicative of a bottom? Watch today’s video to find out what I think.
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On November 13, I pointed out a possible bullish scenario developing for the NZDCAD.
We were watching for a break above the 0.8500 confluence of resistance for a move into 0.8640.
As you can see, the pair is well on its way.
There is also a second Canadian dollar pair that’s starting to look promising.
The AUDCAD may not be as clean as its NZDCAD counterpart in terms of its technicals, but the bottoming pattern is intact nonetheless.
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