AUDCAD: Market Overview and How to Trade

The price has been moving upward for the 3rd month. We can see a correction movement, which is not interesting for us right now. But if the price reaches the support zone formed by the local uptrend line and SMA with period 100.

The price action in this zone will be able to give us new trade opportunities.

If the price bounces from the support, it will be possible to buy using hourly timeframes. If the price breaks this support, it will be possible to use this breakout signal and sell.

Now the market is between zones where it can generate signals. If so,m we need to wait when the price reaches one of these zones, and it will be the support.