The AUDCAD currency pair, despite experiencing a correctional decline in the previous session, has continued to display resilience by holding steadfastly above the additional support level at 0.8810. This steadfastness underpins the prevailing bullish bias for both the near-term and medium-term outlook.
Furthermore, the stochastic indicator is indicating a potential exit from oversold territory, strengthening the prospects for amassing additional positive momentum. As such, the overarching bullish perspective remains intact, with potential targets including 0.8890 in the near term, followed by the subsequent primary target at 0.8940.
For the current trading session, market analysts anticipate a range bound by 0.8820 as support and 0.8890 as resistance, solidifying the prevailing bullish sentiment surrounding the AUDCAD pair.
In summary, the AUDCAD pair is sustaining its optimistic stance, with a focus on potential targets and ongoing bullish momentum. Traders and investors should vigilantly monitor developments in this dynamic market, keeping a close watch on critical support and resistance levels that may influence the currency pair’s trajectory.