Here we are tracking the base formation in AUDCAD, with RBA confirming a divergence between dovishness overcooked in market pricing and forward guidance we can comfortably lean on AUD over the coming weeks.
Those following will know we were previously tracking these lows in AUDCAD and managed to clear our first targets...after a full retrace back to the entry point it is time to reload on longs.
We can do the forward walk here and target 0.948x to the topside, whilst to the downside invalidation comes in below the lows at 0.888x. Risking 100 ticks to make 500.
Good luck all those in AUDCAD, and thanks for keeping the likes and comments coming.