AUDCAD under the pressure of bearish stocks

In anticipation of tomorrow's trading session, our attention is fixed on AUDCAD, with a potential selling opportunity materializing around the 0.90300 zone. Currently entrenched in a downtrend, AUDCAD finds itself amidst a corrective phase, edging closer to the pivotal 0.90300 support and resistance area.

It's essential to trade prudently, particularly as broader market indices indicate a bearish sentiment. Notably, AUDCAD often exhibits a correlation with these indices, suggesting a potential downside for the currency pair.

Trade with care,
Joe

Kommentar:

extending pullbacks to the trend now