Bullish Bat with RSI divergence on AUD/CAD, test of 0.96 likely

FX:AUDCAD   Australian Dollar/Canadian Dollar
176 0 9
"Bullish Bat" pattern completed on AUD/CAD             dailies.

Potential Reversal Zone: 0.9323

Bullish invalidation below: 0.9150

Target Price: 0.95/0.96/0.9775

Pair is currently struggling at 21-DMA at 0.9452, break above will see upside.

RSI divergence from price action see, supports gains.

Good to buy dips around 0.9420/30, SL: 0.9320, TP: 0.95/0.9575/0.96
Comment: Upbeat GDP data buoys Aussie bulls, AUD/CAD extends gains above 23.6% Fib, stay long.

Upbeat Australian GDP report boosts Aussies bulls. Australia’s Q1 GDP q/q came in at +1.1% versus +0.8% expected and from +0.7% prior (revised higher from +0.6%).

The latest GDP figures added to the recent streak of upbeat fundamentals, including Aus trade, jobs and building approvals data.

Stabilization in commodities market also lends support to the bullish momentum in the Aussie.

Target price 1 has been achieved. Recommend holding for further upside.
Comment: TP2 achieved.

AUD/CAD hit highs of 0.9587.

Book partial profits at highs. Pair is at oversold tagging upper BB on dailies.

Scope for upside remains. Bollinger bands are widening.

Hold for targets.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out