AUD/CAD Bearish Sentiment: 0.9240 Key Support Under Pressure

AUD/CAD remains in a bearish trend, with 0.9240 as a key support level, repeatedly tested and holding strong. The bearish sentiment is driven by contrasting central bank approaches: the Reserve Bank of Australia’s dovish stance aims to support economic recovery, while the Bank of Canada signals potential rate hikes amid stronger economic growth and rising inflation. This divergence in monetary policy strengthens CAD relative to AUD, reinforcing downside pressure on AUD/CAD toward the 0.9240 support level.