AUDCAD: Breakout & Bearish Continuation
AUDCAD successfully surpassed and closed below an important intraday horizontal support last week.
Following this breakout, the market retraced back to retest the previously broken level.
The bearish response to this retest suggests that there is a strong likelihood for the downtrend to persist.
The targets for this decline are set at 0.8800 and 0.8760.
Following this breakout, the market retraced back to retest the previously broken level.
The bearish response to this retest suggests that there is a strong likelihood for the downtrend to persist.
The targets for this decline are set at 0.8800 and 0.8760.
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