FX.co ★ AUDCAD M30: Bearish Flag

The Bearish Flag pattern has been formed on AUDCAD at M30. The lower boundary of the pattern is located at 0.9771/0.9781 while the upper boundary lies at 0.9783/0.9793. The projection of the flagpole is 23 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 0.9771 is broken, the price will move further downwards.