AUD/CAD currency pair analysis 27.01.2022

The descendant wave structure is truncated. The support level of 0.8975 restrains sellers. Awesome Oscillator, as well as Stochastic Oscillator, indicate bullish divergence.

Trade idea: 

Buy when an ascendant wave structure starts forming, where a wave (A) pierces the inclined channel of the descendant truncated structure.

Stop loss below the support level 0.8975.

Target levels: 0.9069; 0.9127.