The AUD/CAD currency pair remains under bearish pressure, as evidenced by recent trading activity. The pair has consistently closed below the 0.9082 mark, indicating a strong bearish sentiment. Recently, the AUD/CAD fell to a low of 0.8973 before rebounding to test the 55-period moving average (MA55) at 0.9030, only to settle beneath this level.
This persistent bearish momentum suggests that the pair may continue its decline. The immediate expectation is for the AUD/CAD to move below the 0.8990 level, with potential targets extending to 0.8940 and possibly reaching 0.8880 in the coming trades.
For today, the anticipated trading range for AUD/CAD is between 0.9040 and 0.8940.
Trend Forecast: Bearish
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