AUDCAD: Short-Term Bullish Outlook Amid Trade Tariff SpeculationAUDCAD: Short-Term Bullish Outlook Amid Trade Tariff Speculations
AUDCAD broke out from a bullish wedge pattern, signaling further growth potential. However, the recent bullish wave was driven aggressively by comments made last night, indicating that the US is ready to impose a 25% tariff on Canada and Mexico.
These comments sparked a significant upward movement in the chart. However, as long as the new tariffs are not yet approved, there is a likelihood that AUDCAD may rise further in response to the news.
The negative momentum surrounding the CAD due to these speculations should support AUDCAD's growth in the short-term.
You may find more details in the chart!
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