AUDCAD: Bullish Target Ahead of BoC
The AUD/CAD pair currently sits around 0.89070, with eyes on a Take Profit (TP) of 0.89500. This upside target is largely contingent on the Bank of Canada's (BoC) rate decision on July 30th.
Should the BoC strike a dovish tone or even hint at further cuts, it could weaken the CAD, propelling AUD/CAD towards the 0.89500 resistance. This offers a potential trading opportunity, but remember that central bank announcements can cause significant volatility, so careful risk management is essential.