The AUD/CAD currency pair is currently showing bearish potential. This outlook is supported by a descending trendline, indicating that selling pressure remains dominant in the market.
Additionally, the formation of a swing high further reinforces the bearish technical structure. As long as the price remains below the nearest resistance, the possibility of a move toward the next support levels remains likely.
Recommendation:
- Sell AUD/CAD
- Entry: 0.89560
- Take Profit 1: 0.89360
- Take Profit 2: 0.89160
- Stop Loss: 0.89760
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