The AUDCAD pair has recently exhibited a robust bullish rally, driven by consolidation within an upward channel. This resulted in a breakthrough of the 0.8975 barrier, leading to fresh gains and an ascent to 0.9028.
Stochastic indicators indicate ongoing fluctuations within overbought regions, enhancing the likelihood of garnering additional positive momentum. This momentum could potentially lead to further gains, with a projected move towards 0.9045 and, subsequently, targeting the resistance level at 0.9065 within the established bullish channel.
Today’s anticipated trading range is expected to be between 0.8990 and 0.9045, with an overall bullish trend projected for the day.