AUDCAD currency pair has been moving north for a long time. Still, buyers do not have the strength to beat resistance at 1.0045. Although this level has already been tested several times, there has been a strong supply response every time around mentioned area. It is worth noting that subsequent falls with each turn were smaller. In this way a formation of a ascending triangle was formed. Looking at current situation on H1 chart, we note that market was again in vicinity of the mentioned resistance, where again today there has been a supply reaction. If this zone is permanently rejected, then we might expect declines for which the bullish trend line, which is also the lower limitation of triangle formation, is the potential target.
XM Broker guarantees protection against negative account balance and $ 30 start!
