Supply Zone: The current price of AUD CAD is approaching a significant supply zone around 0.89800. This area has acted as a barrier in the past, indicating
Risk Management:
Entry Point: Consider entering a short position on AUD/CAD around the 0.89800 level, aligning with the identified supply
zone.
Hey Traders,
As we expected the AUD VS USD has slumped and slumped for a long period of time.
It's making its way to far more valid long term entries to the long side,
LET WAIT FOR RETEST SO WILL CAN CONFIRM THE MOVEMENT
Buy now support(Descending channel)
Deeper decline is expected as long as 164.12 resistance holds. Break of 158.54 will target a retest on 155.33 low. In the bigger picture, as long as 38.2% retracement of 123.94 (2020 low) to 172.11 (2022 high) at 153.70 holds, medium term bullishness is retained.
A falling wedge occurs when the price makes multiple swings to new swing lows, but the price waves are getting smaller. This creates a downtrend where the price waves to the downside are contracting or converging.
