Aud/cad. Give me analysis for today

The AUD/CAD pair is currently exhibiting bullish signals, suggesting potential for upward movement. Here's a detailed analysis for today: 1. **Technical Indicators**: The Super Trend and Pivot HL indicators are signaling a high probability of bullish continuation. These indicators are critical for traders to gauge market trends and make informed decisions. The fact that both indicators are pointing to a bullish trend reinforces the potential for the AUD/CAD pair to maintain its upward trajectory in the near term. 2. **Support and Resistance Levels**: The pair is currently trading near the 0.9187 pivot level, which is a crucial point for both support and resistance. If the pair manages to break above this level, it could target the 0.9226 level for profit-taking. Conversely, if it breaks below the pivot level, it could test the 0.90666 level, indicating a bearish sentiment. 3. **Market Sentiment**: The 14-day RSI is positioned slightly above 70, indicating overbought conditions and suggesting a potential downward correction. This is a cautionary signal for traders, as an RSI above 70 typically indicates that a currency is overbought and may be due for a pullback or correction. 4. **Recent Economic Data**: The Australian jobs numbers for September showed a much faster pace of hiring than expected, which could positively influence the AUD/CAD pair. This data point suggests that the Australian economy is performing well, which could attract more buyers into the AUD, potentially driving the pair higher. 5. **Interest Rate Dynamics**: The fading likelihood of further rate cuts by the Fed is supporting the USD/CAD pair. This is because a stronger USD could lead to a decrease in demand for the CAD, potentially causing the pair to appreciate. However, the Canadian Dollar is under pressure due to expectations of a 50-basis-point rate cut by the Bank of Canada, which could weaken the CAD and provide some support to the AUD/CAD pair from the CAD side. In conclusion, while there are bullish indicators and potential drivers for the AUD/CAD pair, such as positive economic data from Australia and the fading likelihood of further rate cuts by the Fed, there are also cautionary signals like overbought conditions and potential rate cuts by the Bank of Canada. Traders should exercise caution and consider these factors when making trading decisions for the AUD/CAD pair today.