FX:AUDCAD Australian Dollar/Canadian Dollar
The AUD/CAD is looking to have some upside potential for the coming week. After down-trending for a while, the pair has posted a on the weekly at a supportive level, following last week’s weekly . Weekly patterns generally carry some significant weight, especially when arriving at a weekly support&resistance zone. Looking at the structure of the move higher on the 4H chart, we can see the pair broke the band on the back of some impulsive looking candles. Currently, we’re looking for a slight correction back to the or FIB area, for us to long the pair in expectation of another week.