AUDCAD RECTANGLE CHANNEL

Hello, Traders

Today, we are focusing our attention on the AUD/CAD pair, which is presenting a fantastic trading opportunity.

Upon analyzing its daily chart, we can observe that it has formed a rectangle pattern. The price has been oscillating within this pattern, bouncing back and forth between the boundary lines. Here are the critical levels to watch:

- Upper Trend Line Breakout: 0.91156
- Lower Trend Line Breakout: 0.87403

Currently, the price is trading below the lower trend line breakout level of 0.87403. As we strategize our next moves, here are the proposed stops and targets:

- Stop: Set at the mid-channel level of 0.89298
- Targets:
- 50% Target: 0.85534
- 100% Target: 0.83658

We hope you find this insight beneficial. If so, please support this idea and follow us to ensure you don't miss out on more valuable content in the future.

TCPLTP

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