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AUDCAD longterm bearish may continue further

Aussie had great bullish run over Canada for last 2 months till end of year 2015. But once 2016 started and Chinese Manufacturing PMI results released, the same old Chinese stock collapse started to shake the whole currency trading. Obviously it will resume the risk off aversion considering more weakness over commodity currency like Australia. In that aspect, please find further the Technical analysis of AUDCAD below,
Monthly chart:
- Chart shows the weakness in exact trend line resistance and …
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ijayakumar 22 1月

Even though Trade balance was better from Chinese, the bearish trend continues and GDP was not that good enough to stop the bearish run either. It seems like Fundamentally Chinese and Aussie currency becoming more weaker and it might stay in that way for few more months at least!

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ijayakumar 29 1月

Recent consolidation oil price made CAD to appreciate which helps the bearish trend to contiue

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AUDCAD is unstoppable and no immediate resistance is present

Since the employment data release from Australia, it finds more good reason like Internal economy growth, Chinese data revival and many more to take a ferocious bullish run. In line with that, please find the technical analysis of AUDCAD in higher timeframe chart,
Monthly chart:
- This pair has found the support on previous price action support with lot more doji's showing strength in growing up
- Engulfing candle has formed and 2 candles almost closed 7-8 previous candles which shows the colle…
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AUDCAD is expected to trande in defined range

AUDCAD is cornering it's Support and Resistance level and hence it is expected to breakout possibly downside soon. Please find my analysis using the charts,
Weekly Chart:
- This pair has bounced back from 0.9170 price action range where the same scenario happened in 2013 also, which indicates that this level would be considered as a strong Support level.
- Upside movement has lot of Doji's and also the price action touching the trend lines or nearer to it is very minimal which shows that this p…
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ijayakumar 20 11月

Aussie dollar has started it's bull run against all the pairs more than what has been expected. Hence it may seem like this pair may finish well above the expected value unless if Chinese deteriorates again.

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AUDCAD bearish trend to continue

AUDCAD is in bearish trend since last year August and it is expected to continue, as strong Support is not found yet. Please find below further analysis.
From Monthly chart
- Only one green candle out of last 9 candles and that shows the weakness of this pair
- After Chinese data, this pair tries to go up but couldn't find any resistance and in the end formed a Top Doji which is another symbol of bearish trend continuation.
- As Price action shows strong downtrend, the price is expected to test…
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ijayakumar 21 10月

Aussie dollar has started appreciating against it's pair, hence forecast might widen if Chinese economy and Aussie economy back on track!

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ijayakumar 11 11月

This pair still in range trading between 0.91 and 0.95 and hence this pair may go zig-zag movement and a downside movement is highly possible from current 0.93 range and thus I believe this target is still achievable!

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