AUDCAD: Bearish bias is weakening
AUDCAD is coming to a squeeze between a strong support from Oct 2020 and descending line from Feb 2021.
The price came closer to 200 SMA which indicates that bearish bias is weakening.
If it can break above the descenging line and stay above 200 SMA then we can see an upward trend.
The price came closer to 200 SMA which indicates that bearish bias is weakening.
If it can break above the descenging line and stay above 200 SMA then we can see an upward trend.
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There is a clear double top pattern, if it breaks below 0,9217 it can go down to 0,9147