This article has been translated from English to Gen Z Slang.
AUD/CAD just chilled down by about 80 pips in the last trading sesh, but lowkey it found a vibe check near a key level that's sus. 😎
This pair looks like it's flexing, ready to see if that weeks-long uptrend still got the drip.
Let’s take a selfie on the 4-hour time frame: 📸
AUD/CAD: 4-hour
AUD/CAD 4-hour Forex Chart by TradingView
Canada’s sick jobs report had the Canadian dollar on serious fire on Friday. The stats came in clutch, cancelling all that dovish chatter from the Bank of Canada’s (BOC) side, so traders were vibing with the Loonie. 🔥
But yo, the Aussie dollar isn’t just chilling in the shadows. The comdoll is on the up with solid mid-tier stats at home and the RBA might not be as chill as the markets think. Both these currencies are kinda confident right now, making this week’s vibes super interesting. 🌟
AUD/CAD has been flexing on higher highs and lows since late November, but it hit a no-go zone at .9240 and slipped down to the .9160 area.Always remember that directions and hype in market prices are usually driven by the real deal. If you haven’t yet hit up the Australian dollar and the Canadian dollar for your homework, then it’s time to peep the economic calendar and stay woke on daily tea! ☕️
We’re on watch to see if this area gains bullish hype. It’s chilling near a past no-go area from late October through early November, lining up with the 61.8% Fib of December's glow-up, the Pivot Point line at .9187, and the lower edge of the ascending channel in the 4-hour pic. 📈
If we start to see green candlesticks and vibes above the .9200 line, AUD/CAD might just jet to the .9240 highs or even pop off to new December highs. 📈
But if those red vibes pop up and AUD/CAD stays below .9150, we’re looking at a slide towards .9100 to .9120 or even taking a throwback to November’s lows near .9080.
No matter which side you’re vibing with, don't forget to keep it tight with risk management and stay updated on those mega mood swayers that could flip the script. 💪
Disclaimer:
Heads up! The content on technical stuff here is just for LOLs and learning. Don’t take it as trading advice or anyone telling you which way to bet. Tech analysis is just one part of trading like a boss. The setups we’re talking about are just chill spots that other traders might be checking out. Remember, at the end of the day, all trading decisions and how you manage your risk are up to you, so trade smart, fam! 🤓