AUDCAD was moving in bullish trend since September 2015. Dynamic gains which started in November led this pair to high at 1.0150.

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Since beginning of this year we see some decreases and price tested support near 0.9750. It is worth to notice that this level is working well as a resistance since May 2015. There is also a trend line set by highs of decreases and in this week we saw price reaching it three times with rebounds.

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Mentioned sellout lead back to support at 0.9750, in this area there is also broken line of bearish trend which lasted since April 2014. It is also a support right now and it seems like in this this can be an impulse for bulls and they will push price back to short term resistance which is set by trend line mentioned above.

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