It's explained above.
To back up my points, AUD/CAD has been in a downtrend on the monthly chart for a while now, and the last few months have seen a lot of momentum, more than anything this is a lower high that will form on the monthly and it will be the start of the continuation of the original downtrend of this pair. There is a strong resistance at the current level meaning that more than anything this is going down. As well as this there is now also a forming on the , there are multiple confluences suggesting that this pair will fall, its just a matter of time. Watch this space.
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