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Currency pair analysis AUD/CAD

08.02.2022

Market Review

The overall trend is descendant. The currency pair trades in the range of 365 and 135 moving averages. The ascending wave pattern has completed breaching of the inclined channel. There is a bearish divergence on the Awesome Oscillator.

Trading idea:

Sell when 0.9008 is breached.

Stop loss: 0.9078.

Target levels: 0.8950; 0.8915.

Author: GC
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