Bulls strikes back on AUDCAD. New year started with falls after almost vertical upward movement which lasted in November and December last year. After two months of upward movement without any correction supply expected deeper correction. I assumed that should make rebound was 0.9740 where support coincides with Fibonacci 50%. Demand was stronger and after reached to Fibonacci 38,2% new week begun with dynamic uptrend movement. If momentum will be still so strong, we can see “V bottoms” pattern. Nearest resistances: 1.0110, 1.0200, 1.0310. Nearest supports: 0.9940, 0.9820, 0.9740.
