The Aussie Canadian Dollar.

Good afternoon Dynamic Traders,

I hope you are all well and enjoying your trading week.

Todays chart on the daily timeframe for you to analyse, is the AUDCAD.

Whilst doing your own analysis on this cross you will see that it has recently popped up through the V.I. on its second attempt and has now got to contemplate the former resistance at the figure.

It has been in this range since early October but is getting closer and closer to the squeeze end.
I am keeping this pair on my watchlist to await to see what happens at the resistance, as at present it does have several OB indicators in its collection but what appears to be gaining strength.

Whether we drop to the trendline or further or push north is anybodies guess and so as is the norm, exercise patience with this currecy but keep an eye on it.

The lower timeframe (hourly) may just have done a 123 and could be used for a possible entry if trading intra day.

Charts courtesy of TradeStation.

Have fun Trading.

Clayton Farnworth.