FX.co ★ Technical Analysis of Intraday Price Movement of AUD/CAD Cross Currency Pairs , Monday May 13 2024.

If we look at the 4-hour chart of the AUD/CAD cross currency pair, it can be seen that Buyers' dominance is still dominant, which is confirmed by the 20 EMA which is still above the 50 EMA, but to continue its healthy strengthening, AUD/CAD needs to retrace for a moment and then resume its strengthening where Currently, in the near future, AUD/CAD will attempt to be corrected down to the 0.9009-0.9003 level. If this level area is successfully broken downwards then the 0.8918 level will be the next target to be aimed at, but all of these weakening correction scenarios will become invalid if they are on their way down. weakening suddenly AUD/CAD returns to its initial bias again, especially if it succeeds in breaking above the 0.9053 level.

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