AUDCAD - Pullback Nears a Key Buy Zone!

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AUDCAD - Pullback Nears a Key Buy Zone!AUD/CADOANDA:AUDCADRayannsrAUDCAD remains bullish from a broader perspective and continues to trade within its corrective range. After rejecting the previous high and the red resistance zone, price is now moving toward the blue support area. As the current pullback unfolds, the blue support zone comes back into focus and may provide another opportunity for buyers to defend the broader bullish structure. ⭕As price approaches the blue support area, we can start looking for buy setups on lower timeframes, anticipating a continuation of the broader bullish trend. ⭕However, if price breaks below the blue support area and the red trendline, it would provide the first major indication that momentum is shifting from bullish to bearish. In that case, the focus shifts toward the lower weekly support and demand area, where another bullish reaction may develop. The next reaction from this support zone may reveal whether buyers are ready to resume the broader uptrend, or if sellers have other plans. ⚠️Disclaimer: This analysis reflects my personal market view and is not financial advice. Rayan Nasser #AUDCAD #AUD #CAD #Forex #TechnicalAnalysis #PriceAction #Trading #MarketStructure