The Bull has taken over the AUD/CAD pair since December 2017. Since it touched the monthly pivot point support at 0.9599, the pair has been trading in a channel up and reached a new high level.
A new junior channel has been mapped, and the pair has tested the daily dominant channel’s upper trend line. Overall, the AUD/CAD pair is likely to breach the weekly pivot point’s resistance level at 1.0040.
In regards to the future trading, the pair is likely to continue bullish until it breaches the weekly PP, and afterwards there might be a temporary retracement to the south.
