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.
This content is for informational purposes only and is not intended to be investing advice.
