The AUDCAD pair maintains its downward trajectory after confirming a breakdown below the 0.9115 resistance level. Recently, the pair has moved beneath the 55-period moving average (MA55), setting its sights on the 0.8940 level.
With Stochastic indicators hovering around the 20 level, the bearish pressure is expected to intensify. As a result, the outlook remains negative, with potential targets at 0.8870, followed by 0.8810.
The expected trading range for today is between 0.8870 and 0.9040.
Trend Outlook: Bearish
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