AUDCAD: Weak CAD, need a pullback for an entry

Canada's inflation is well below 2%, and with GDP underperforming at 1.7% annualized, the time to cut rates from 5% could be this Wednesday.

If this doesn't happen, we could see a snapback in the market near the 0.9050 area, which would be a good potential entry.

Australia's inflation rate is 3.4%, so no rate cut coming soon.

NO TRADE

Trend: Bullish
Momentum: Bullish
Japanese Candlestick Pattern: Bullish Engulfing on 4/22
Chart Pattern: Bullish Channel
Support and Resistance: 0.8600, 0.9000, and 0.9350 are all in play near-term.