For three weeks AUDCAD has been moving in consolidation between 0.9320 – 0.9500. Yesterday there was a false attempt of broke that level and today the price has been falling. Nearest support is located at 0.9450. That level has stopped declines for now. If this rebound is successful, the price will test again 0.9500. However, if AUDCAD falls below 0.9450, the next supports will be located at 0.9410, 0.9360 and finally 0.9320.
In wider perspective the downtrend line was broken at the end of May and it is more likely that AUDCAD will be moving up.
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