AUDCAD downtrend Analysis
AUDCAD is moving in a downtrend by forming lower highs, lower lows in 4-hour time frame chart.
Now, AUD/CAD reached the lower high for 3rd time.
In the previous AUD/CAD update, Head and Shoulder Pattern has formed (click here to check)
Now, AUD/CAD reached the top zone of the downtrend line.
Canadian economic performance growth gives a solid boost for Canadian Dollar (CAD)
Performance of the Canadian economy is surprisingly higher than the US economy, So, the CAD dollar is getting stronger continuously.
This is the reason, we are seeing now many technical patterns on CAD currency pairs.
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