Since 8 weeks there is an uptrend rally at AUDCAD. Without bigger correction price gains more than a 800 pips. Today upward movement is continued and this year’s top was broken above. AUDCAD reached a 15 months high. Correction may begin at every moment, however it is likely that current movement will lead price to supports at 1.0130 or 1.0200. If one of that levels will cause rebound, nearest support is at 0.9970 level.

AUDCAD-D1

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Wider view, time-frame W1

So rapid movements aren’t new for AUDCAD. However current uptrend is very mature and area to which the price approached should cause a reaction of supply.

AUDCAD-W1

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