AUDCAD Daily Timeframe Projection

AUDUCAD – D1 Timeframe

AUDCAD, on the daily timeframe, is currently reacting off the drop-base-rally demand zone. The trend seems bullish, as confirmed by the market structure break above the previous highs. The confluence from the 88% Fibonacci retracement level also provides a valid argument in favor of the bullish sentiment. Again, the confluences are;

• The bullish market structure;
• Retest of the trendline support;
• Drop-base-rally demand zone;
• 88% of the Fibonacci retracement.

Analyst’s Expectations: 

Direction: Bullish

Target: 0.92379

Invalidation: 0.90272