AUDCAD Approaching To The Channel’s Lower Band

As you see in the daily chart, price is in the huge ascending channel and has tested the lower and upper bands of it several times. Price is approaching to the lower band now.

IF price got rejected by the channel’s lower band and got rejected by that level, we might see a rise around the channel’s middle line and in the case of that level’s breakout, we will see more rise to the channel’s upper band.

On the other hand, if the ascending channel broken out to the downside, we can expect a fall in price as the same size of the first channel.