AUDCAD is looking bearish

Bears Seem to be loosing power

In the AUDCAD pair, a notable technical development has occurred as the MACD line has recently crossed above the signal line. This bullish crossover suggests a potential shift in momentum towards the upside.

            Chart Notes: 

           • Chart time-zone is UTC (+03:00)

           • Candles’ time-frame is 4h.

Supporting this positive sentiment, the histogram has turned green and is displaying an increase in length, indicating growing bullish momentum. Traders will likely monitor this development closely for confirmation of an upward trend. However, it is advisable to consider other factors such as support and resistance levels, fundamental news, and overall market conditions when making trading decisions. This analysis suggests a potential bullish outlook for AUDCAD, but careful observation and analysis of additional indicators are recommended before executing any trades.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.