AUDCAD has huge potential for reversal to next profit target of resistance. So we can find a short buy position from this level. In the short term, technical signs warn that AUD/CAD may aim for 2016 lows next, at 0.94200. This comes after a break under the rising support line from March on the daily chart below. Moreover, the dominant downtrend from late November could be on the of resuming. A more interesting picture is revealed if you were to zoom in on the 4-hour chart.
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