AUDCAD - Bearish BiasAUD - Weak Bearish
1️⃣ RBA minutes indicate that the central bank will keep interest rates at least until 2024.
2️⃣ The RBA expects that there will be an economic contraction in the third quarter, and board members agree that the period of recovery in economic activity will be heavily dependent on the removal of sanctions.
3️⃣ Iron ore prices declined due to concerns about global growth.
CAD - Strong Bullish
1️⃣ The recovery in crude oil prices gave support to the CAD.
=====
Technical
=====
We are selling AUDCAD after it failed to break resistance.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
