I'm expecting this pair to keep dropping until it hit the ~0.734 resistance. 2.44 R:R on this particular trade at market buy, decently aggressive stop loss (~0.748 is an interesting area, will jump out and re-evaluate if it hits there).
AUDCAD just finished a 5 step Elliot Wave, and is currently on it's leg A of it's ABC corrective action.
Price broke through the 1.01006 S/R line, indicating the 1st corrective wave is still progressing.
First wave corrective action will probably stop ~ 0.997 price, as this is a major S/R line, and also 0.5 Fib
Price expected to bounce off this line into the...
