The AUDCAD pair, which has been strongly bullish since the beginning of the year seems to be starting a downtrend. We have a bearish cross of moving averages at 7 and 20 sessions while at the same time the MACD invalidates the medium term uptrend by passing under its signal. In this context, the return on the moving averages could be used to short the pair in order to aim first for a return on the lower Bollinger band.
Direction: Down
Entry: 1.0602
Stop-loss: 1,065
Take-profit: 1,055
