AUDCAD has been steadily moving down in price for better part of 2019 and has started to consolidate since August of this year. As seen on the chart below we have our first Higher low which is further support by Bullish MACD divergence.
Moving down into the 4H timeframe, price has made a move up towards the 0.902 zone and now has pulled back to key support area which is signified by the horizontal price support and all three of our key EMA’s wrapping below current price.
