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AUD / CAD It is possible to restore the upward movement

Mid-term upward movement and correction to support levels.

On daily chart the pair reached dynamic levels of support: a strong diagonal level and up to 38.2% of Fibonacci, it is likely to see a bullish momentum.

The long lower shadow and the short lower tail of the previous bar and the closure above these levels, and its shape, show strong bulls, giving us good positioning levels with SL 0.97170.

The price reaches 50 EMA and fails to break it, the bearish impulse may have ended.

Stochastic turns and gives a signal below 20, which is also a signal for promotion.

Alternative scenarios: Breakthrough, test and repulsion from strong support will form the technical head and shoulders.



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