AUDCAD pair was at that levels were last seen in September 2014. At the weekly chart below key area of resistance located within the 1.0150 level was defeated. Moreover bearish pin bar that formed on the resistance in the last week of September was negated.
A lot now depends on today’s candle closing and if it happens above the area of resistance, it can be treated as defeated. We can continue to search buy signal at least on the H4 chart while re-test of resistance as new support or after pullback to the 20-period MA.
The next area of resistance is around 1.0220 level and is located around the highs of August and September 2014.
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