AUDCAD is moving upwards, creating higher highs and higher lows after breaking above the descending trend line supported by a previous resistance-turned-support level suggesting that the sellers may be losing control and buyers are gaining momentum! Current price action poses a potential buying opportunity after a pullback into the “Buy Zone". The strategy is to enter a long position within this zone, with a stop loss placed below the defined support, aiming for a continuation of the newly established uptrend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.