audcad technical analysis by Guriforex

AUDCAD Technical Analysis

The AUDCAD currency pair is currently displaying a persistent downtrend, as indicated by long-term moving averages that are trending downwards. In this technical analysis, we will focus on the H4 timeframe and identify potential entry and exit points for traders.

AUDCAD Trading signal

In the H4 timeframe, we can observe that the pair reversed from a key resistance level at 0.86400 and has initiated a downward trajectory. Given this bearish momentum, traders may consider the following trade setups:

Bearish Trade Setup (SELL AUDCAD)

  • Entry Point: Consider selling AUDCAD if the pair breaks below the support cluster in the range of 0.86050 – 0.86125. This break below the support cluster could signify a continuation of the downward movement.
  • Take Profit 1: Set the first take profit level at 0.85840, aiming for a target just below the support zone.
  • Take Profit 2: For a more extended bearish move, the second take profit level is set at 0.85480, which aligns with a significant support area.

However, it’s essential to be mindful of potential corrections in the market. In the event of a correction, traders should exercise patience and wait for the price to break back above 0.86400 before considering a bullish trade setup.

Bullish Trade Setup (BUY AUDCAD)

  • Entry Point: To initiate a bullish trade, look for a break above the resistance level at 0.86400. This break could indicate a reversal in the short-term bearish trend.
  • Take Profit: Set the take profit level at 0.86760, targeting a potential reversal and upward movement.

Please note that this analysis is based on the H4 timeframe. Traders should carefully assess their risk tolerance, trading strategy, and overall market conditions before executing any trades. Here are some key considerations:

  1. Risk Management: Always implement proper risk management techniques, such as setting stop-loss orders, to protect your capital.
  2. Market Monitoring: Keep a close eye on the market to ensure that price movements align with your trade setup.
  3. Adaptability: Be prepared to adjust your trading strategy if market conditions change or if new developments emerge.


AUDCAD pair is currently favoring a bearish outlook, with specific entry and exit points outlined for both bearish and bullish scenarios. However, the analysis is conducted on the H4 timeframe, and traders should exercise caution, employ sound risk management practices, and stay updated with market developments as they execute their trades.

Scroll to Top