AUDCAD neutral

The AUDCAD reversal is approaching

21 february 2022 90
Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
3rd in the segment "Indices"
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The AUDCAD currency pair could not possibly determine the long-term trend: since the middle of the past year, trading has been moving within the flat with a slightly privilege for sellers.


On the chart, the same formation materializes: when overbought is achieved, with the RSI the downward reversal occurs and with overbought the upward reversal occurs.


Now, the RSI again came to the overbought zone. Until the reversal pattern on the chart is not materialized, it is worth carefully follow the levels of 0.92376 (maximum of 2022) and 0.93 (the top of the preceding growth cycle). Good opportunities for a sell of AUDCAD can be provided at these levels.

Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
3rd in the segment "Indices"
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