On the weekly chart pair AUD/CAD is already clearly visible a strong rebound from the resistance limiting the range of trading for over 3 years. I wrote about it on November 17, indicates the likelihood of a change in trend.1-34-696x285

Looking at the daily chart, we can see that there has been a change in the trend. The scale of decline exceeds by far previous corrective movements showing us a huge momentum supply. Looking for opportunities to playing on dips we might be interested in clear resistance 0,9950-70 area roughly region of earlier lows. After such a strong declines it should lead to a recovery that is likely just beginning.

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