The AUDCAD shows temporary correctional rebound – Analysis – 6-6-2023

The AUDCAD pair failed to resume the main bearish track after facing the additional support 0.8800, to force it to form correctional bullish rebound and attempt to decrease the previous losses by rallying towards 0.8935 now.

The above chart shows the main stability within the bearish channel, in addition to 0.9010 level forming additional barrier, allowing us to wait to gather the negative momentum again and manage to renew the negative attempts that might target 0.8875 followed by renewing the pressure on the additional support in order to find a way to resume the decline in the upcoming period.

The expected trading range for today is between 0.8975 and 0.8875

The expected trend for today: Bearish