AUDCAD: Bearish Accumulation & Potential Bearish Wave 🇦🇺 🇨🇦
AUDCAD is trading in a bearish trend on a daily.
However, since August the pair stopped falling and the price formed a classic bearish accumulation pattern:
Setting equal lows and lower highs, the price is stuck on 0.909 - 0.912 horizontal demand zone.
To catch the next bearish swing, wait for a bearish breakout of the underlined blue support.
We need at least daily candle close below to confirm a breakout.
Next support will be 0.895
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