The AUD/CAD has been continuing its new bullish phase, following the moving averages indicators, the price is currently above the 200, 50 and 21-day MA (Blue, Black and Purple line).
And this reveals a strong trend in the market. The 50-day SMA is about to cross over the 200-day SMA which means the price is Golden for the Buyers. The bull started with a very strong momentum since the 18th in driving the price upwardly, but they have 0.9300 psychology level to deal with before the bullish movement could be ascertain on a long term and probably moving towards the 0.9400 as the next mark.
That said, any break below the 0.9240 might result to the bears taking over the market and driving the price lower.
And this reveals a strong trend in the market. The 50-day SMA is about to cross over the 200-day SMA which means the price is Golden for the Buyers. The bull started with a very strong momentum since the 18th in driving the price upwardly, but they have 0.9300 psychology level to deal with before the bullish movement could be ascertain on a long term and probably moving towards the 0.9400 as the next mark.
That said, any break below the 0.9240 might result to the bears taking over the market and driving the price lower.