While the AUDCAD price exhibited some bullish correctional movements, the broader perspective remains entrenched in bearish territory. The main resistance at 0.8780 has held firm, underscoring the bearish sentiment expected in the upcoming trading sessions.
As depicted in the chart above, the 55-day moving average remains in proximity to the primary resistance, reinforcing the bearish trajectory. As such, the outlook maintains a pessimistic tone, with expectations of gathering additional negative momentum. This would mark the initiation of a descent towards lower price levels, which may commence around 0.8655 and 0.8580.
Today’s anticipated trading range is likely to fluctuate between 0.8755 and 0.8680.
Today’s projected trend: Bearish