Will AUDCAD Go North With the Bulls?

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In the last section of the price movement, two channels were built: a descending green and an ascending yellow. Now the market is moving inside these two channels at the same time, and it is not clear which of them has a stronger impact on price behavior.

If in the near future we see the growth of the market near the resistance level of 0.912, which is on the upper bound of the green channel, and then this price level will be broken above, the way will open for the bulls to the next resistance of 0.921, which is on the upper yellow bound.

If we see a decline and a break of support of 0.899, in the future we can expect a bearish trend to the lower green bound and support of 0.890.


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