AUD/CAD Analysis, Chart, and Trading Idea as of 01/02/2023

Analytics for AUD/CAD Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels
 

The trend is ascending. The pair is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. The Stochastic Oscillator signals the oversold state.

Trading idea:

Buy at the formation of the ascending wave structure, when the (A) wave breaches the sloping channel of the descending truncated structure;

Stop Loss: under the local minimum of the downward structure (0.9371);

Target price levels: 0.9460; 0.9540.