AUD/CAD (11/02/23) Weekly Chart - Bulls controlAt present, the bullish trend in the AUD/CAD currency pair appears to be strong and unrelenting. The market is approaching a supply zone with an inducement, which could potentially provide a good selling opportunity. The presence of gaps in the market supports this possibility. Despite the bullish trend, the I believe that it would be beneficial to wait for a dip in the price before making a purchase. The liquidity at the bottom of the range, combined with the potential for lower prices, suggests that there may be a chance for a more advantageous buying opportunity in the near future.
I wishes everyone good luck and a profitable week ahead in the foreign exchange market.
