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Australian Dollar/Canadian Dollar Trading Signal - AUDCAD

Forex Market Price Signals and Analysis

Good Evening Traders,

Almost at the close of Jan. 23, Lift-Off confirms a LONG trading signal on AUDCAD

The AUD/CAD cross is showing a solid bullish trend, with the Lift-Off band tilting upward. After a slight decline, it is now registering an increase of +0.75 percent. 

The recovery of the Chinese economy after the Covid restrictions could be a driving factor for the Australian dollar. 

The price has consolidated above the previous resistance in the 0.93 area, which now serves as support after reaching new highs. We expect a continuation of the upward trend.

Australian interest rates: 3.10%

Canadian interest rates 4.25%

Below chart of AUDCAD - with signal detected by Lift-Off

Signal chart of January 23, 2023

LONG - AUDCAD

Input price: 0.93925 (current market price and valid any price that is not too far away)

Important: 

Please note that the chosen signal has been identified from those detected by the Lift-Off indicator, which you can view in the "Signals" section of our website. However, we will NOT provide any guidance on how to handle the trade.
We recommend that you handle the trades as shown during our professional courses on using the platform, available at the following link: https://it.largetrader.com/eventi