AUDCAD - What is next?

PAIR IN FOCUS: AUDCAD
ACTION: SHORT (CONDITIONAL)
HORIZON: SHORT TO MEDIUM-TERM

Price broke down the range, retraced back into it, and now is at a critical area to decide which bias prevails. It is important to look at price action in the Critical Zone. If price can have a clean break down the CZ, we can look for it to reach the TP level. However, if price action is bullish in the CZ and rebounds off, skip this short set-up.

The TP level and Stop Loss are indicated on the chart. Remember to manage your risk!

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