AUDCAD: Bearish Outlook Explained 🇦🇺🇨🇦

Short

Australian Dollar/Canadian Dollar (OANDA:AUDCAD)

OANDA:AUDCAD Australian Dollar/Canadian Dollar

Support and Resistance Trend Lines Parallel Channel priceaction priceactiontrading AUDCAD trading signals forexsignals tradingsignals Forex

supportandresistance trendline parallelchannel priceaction priceactiontrading audcad trading signals forexsignals tradingsignals forex

snapshot

AUDCAD is trading in a bearish trend.
After the price set a new local lower low,
the price retraced to a solid horizontal resistance.

After its test, the market violated a support line of a rising channel.
We see a strong bearish reaction after its retest.

The price will most likely keep falling at least to 0.8827

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