FX.co ★ AUDCAD

As of today, the AUD/CAD currency pair continues to move within a descending channel, which indicates that sellers still maintain control. After an attempt to hold above the 0.9880 level, a pullback began. I expect that in the near future the price of the pair will move roughly within the 0.9825–0.9780 range. At the moment, the 0.9825 level is the nearest support; if the price manages to break below this level, it may become one of the first signals that a move toward 0.9780 is likely to begin, although a pullback is also possible. However, it is important to note that the price is currently above this point, so the priority direction remains bearish.