AUDCAD: Channel Up bottom buy opportunity.

AUDCAD is neutral on its 1D technical outlook (RSI = 45.713, MACD = 0.002, ADX = 36.219) as it is testing the 1D MA50 and 1D MA200 periods at the bottom of February's Channel Up. This is a technical buy opportunity on the lowest possible risk, since as long as the Channel Up holds, we can target a Higher High at +2.30% (TP = 0.90500) like the one before. If the Channel Up breaks the loss will be minimal and we'll be able to short and target the S1 level (TP = 0.87300).

See how our prior idea has worked out:


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