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 0.9830 level, a decline began. I expect that in the near future the price of the pair will move roughly within the 0.9795–0.9750 range. At the moment, the 0.9795 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 0.9750 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 scenario remains bearish.