The price perfectly fulfilled my last idea. 
AUDCAD is rejecting from the top of the resistance zone after a strong bullish impulse and has started forming a rounded top pattern. Price remains inside an upward channel but is showing signs of exhaustion with the blue arrow projecting a pullback. As long as the price stays below 0.9008, we expect a descent toward the 0.8962 region. Momentum is cooling, and a bearish correction is likely before any bullish attempt resumes.
📉 Key Levels
💡 Risks
AUDCAD is rejecting from the top of the resistance zone after a strong bullish impulse and has started forming a rounded top pattern. Price remains inside an upward channel but is showing signs of exhaustion with the blue arrow projecting a pullback. As long as the price stays below 0.9008, we expect a descent toward the 0.8962 region. Momentum is cooling, and a bearish correction is likely before any bullish attempt resumes.📉 Key Levels
- Sell trigger: Break below 0.8990
- Sell zone: 0.8995 – 0.9012
- Target: 0.8962
- Invalidation: Break and close above 0.9025
💡 Risks
- Strong bullish momentum may resume if support holds
- Failure to break 0.8990 could trap early sellers
- Macro data from AUD/CAD region may disrupt the structure
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
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🌎WebSite: lingrid.org
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.