*AUDCAD M15 Technical Analysis* *1. Overall Trend & Structure* AUDCAD on the 15-minute chart shows a clear bullish structure forming since the overnight low around 0.98797 on Aug 24. Price has printed a series of higher lows and is currently trading at 0.99108. The ascending red trendline connecting the lows confirms buyers are defending dips. A previous descending red trendline was broken during the mid-day session, signaling a shift from the earlier corrective phase to renewed upside momentum. The market is now consolidating near the 23.6% Fibonacci level after rejecting lower prices.
Fibonacci and key levels The chart plots a Fib retracement from the swing low ∼0.98797 to the swing high ∼0.99217. Key levels are marked: 23.6% at 0.99108, 38.2% at ∼0.99007, 50.0% at ∼0.98937, and 61.8% within the green demand zone ∼0.98867-0.98937. Current price is sitting exactly at 23.6%, acting as immediate resistance. The green highlighted box represents a demand zone where buyers stepped in earlier, and it aligns with the 61.8% Fib. A break and hold above 0.99108 opens the path toward a retest of the 0.0% Fib at 0.99217.
*3. Support & Resistance Zones* Immediate resistance is the blue supply box around 0.99100-0.99120, which capped price in the last two attempts. Above that, 0.99217 is the swing high target. On the downside, the green demand zone 0.98867-0.98937 is critical. It also confluences with the rising trendline and 50%-61.8% Fibs. As long as price holds above this zone, the bullish bias remains intact. A 15-min close below 0.98867 would invalidate the short-term uptrend. *4. Price Action & Momentum* Recent candles show rejection of lows in the green zone followed by a strong bullish push into the blue resistance area. The fact that price is holding near the highs without a deep pullback suggests buyers are in control. Volume context on M15 isn’t shown, but the sequence of higher lows and breakout above the descending trendline supports continuation. However, consolidation at 23.6% indicates some profit-taking before the next leg.
*5. Outlook & Trade Bias* Bias remains bullish while price stays above 0.98937 and the ascending trendline. The most probable scenario is a breakout above 0.99120 targeting 0.99217.
