In Technical Analysis

Further downside for AUDCAD?

In our previous article, we asked the question has AUDCAD Reached its peak?

Since then the pair has given up some of its gains and now hovers at 0.9018, down from around 0.9100 when we last reported on the pair earlier in November.

We now ask has the pair got further momentum to the downside?

Looking at the chart below, the SMI indicator suggests the pair could head further down as it approaches the midway point on the way down. Will increase downward momentum or will recent central bank and economic announcements halt the downward move?

Further downside for AUDCAD?

Further downside for AUDCAD?

Further downside for AUDCAD?

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