Hello Traders. On the Daily Chart of AUDACD, the price has been rising for a few days now. It broke out of a descending channel at around 0.9020 and has been rising since. However, I am still bearish on this pair as the global outlook still remains bearish. I will be looking to sell at around 0.9220 after seeing confirmations for a reversal.
For intra-day trading, BUYS are still valid as the price is currently re-testing the yellow support line (0.9110) and could go up to the 0.9220 range. If you like my analysis and would like to see more analysis like this on different pairs, please like and follow. Also, do let me know if you want me to analyse any specific pair. Thanks
DISCLAIMER: This is not meant to a financial, investment, trading or any type of advice or recommendation.