The AUDCAD resumes the decline – Analysis – 18-1-2022

The AUDCAD pair confirmed its affection by the domination of the bearish bias by settling below the bearish channel’s resistance at 0.9115, to notice the beginning of forming negative waves and achieving 0.9033 level.

Note that the consolidation below 50% Fibonacci correction level at 0.9035 and stochastic attempt to crawl towards the oversold areas allow us to suggest more negative trades, to target 0.8960 and 0.8905 levels.

The expected trading range for today is between 0.9035 and 0.8960

The expected trend for today: Bearish