The AUDCAD currency pair has encountered significant resistance at the 0.9167 level, resulting in a strong negative shift and a subsequent decline to 0.9110.
Looking ahead, the pair is expected to experience some sideways trading as it accumulates additional negative momentum. This accumulation is anticipated to lead to the formation of further bearish waves, potentially pushing the price towards lower targets. These targets include the 0.9075 level and the 50% Fibonacci retracement level at 0.9055.
Today’s anticipated trading range for AUDCAD is between 0.9075 (support) and 0.9130 (resistance).
Trend Forecast: Bearish
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