The AUDCAD pair has maintained its stability within the confines of the bullish channel, demonstrating multiple bullish waves that culminated in a settling near 0.9035, as depicted on the chart. Notably, the 0.8990 level is working to establish additional support, and the current stochastic rally above the 50 level significantly enhances the probability of generating new positive waves.
In this context, the focus is on the 50% Fibonacci correction level at 0.9055, and a successful breach of this level could propel the price toward 0.9082, representing the subsequent main target.
For today’s trading sessions, the anticipated range is between 0.9010 and 0.9055. The overall trend outlook leans towards a bullish bias. Traders are advised to closely monitor price developments and key levels for potential trading opportunities.