Chapter 10 Are RBA Meeting Minutes going to end the downtrend on AUDCAD?
AUD/CAD
17/10/2022
Fundamental analysis
Tomorrow we have the Australian bank meeting minutes these minutes are going to end the downtrend end of the day For the euro cat for the short term the expectation is yes they are going to increase the interest rate in Australia and this minute is the meeting of the bank orders and they're going to have the look of the economy
On the other hand, next coming Wednesday we have Canada's Inflation Rate YoY With an expectation of 6.8% The previous one was 7%.
Technical analysis
If tomorrow we see strength showing up on AUDCAD And the price pushes higher than the last supply zone add a price of 0.87047 We can consider the price acceptance above this zone and we can look to buy the pair and we have a technical target at 0.87730 For the first take profit and we have as well second technical target at 0.88559 For the second check profit.
