FX.co ★ easton.white | AUDCAD

For the AUD/CAD pair, today's daily candle is already instilling some optimism in sellers, as there has been a slight decline throughout the day. Moreover, we are currently at the top of the trading range according to the Envelopes indicator, both on the four-hour and daily timeframes, below the resistance level of 0.9937. The Pivot Points have also indicated a shift to the selling zone of the Envelopes indicator on the hourly timeframe below the resistance level of 0.9919, with the current price of the AUD/CAD pair at 0.9905. Therefore, the path towards further price decline is currently open, down to the support level of 0.9739. Considering that we are essentially forming the third peak on the daily timeframe, I believe that in the next 10 days we could cover the distance from the current level of 0.9905 to the support at 0.9739.