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With the price movement of the AUD/CAD cross currency pair moving above the WMA (21) which has an upward slopes and the appearance of Convergence between the price movement of AUD/CAD and the Stochastic Oscillator indicator, it gives an indication that in the near future has the potential to appreciate up to the level of 0.8896. If it turns out that this level is successfully broken and closes above it, then AUD/CAD will continue to strengthen to the level of 0.8943 and if the momentum of strengthening and volatility support it, then 0.9042 will be the next target to be aimed for, but if on the way to these targets there is suddenly a significant weakening correction, especially if it breaks through and closes below the level of 0.8793, then all strengthening scenarios that have been described previously will be invalid and automatically canceled by themselves.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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