The AUDCAD opened this week below the wedge pattern, but quickly closed above it, indicating a desire for the price to move up. However, it needed to retest the strong resistance level at 0.905, which coincidentally is also where it meets a descending trendline, the upper edge of the wedge pattern, and the 23.6% Fibonacci level. Based on my analysis, this could be the start of an upward channel with a target of 0.915 where it meets another ascending trendline.
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Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!