Audcad has rallied hard off the March lows.
Currently heading into a very nice area of interest for shorts
including the well respected dynamic support/resistance
coming from both the weekly + monthly 200 SMA .
What’s more is since coming off the March lows the pair has
seen no meaningful pullback yet.
Making the probability we’ll see some reaction/hesitation
at these big weekly + monthly levels even better.
I seldom pay attention to this currency pair because it unites two strong, but stable currencies, therefore strong movement here can be predicted purely on fundamental analysis, and it can not always be productive. Especially, if you have not planned to analyze these events yourself.
It is indeed a strong pair. Analyse the price movement thoroughly before placing a trade.
That’s a strong currency pair. Should be fruitful. What strategy are you using for analysing their movement?