AUD/CAD broke support area

AUD/CAD broke support area

  • AUD/CAD broke support area
  • Next sell target - 0.9500

 AUD/CAD continues to fall after the recent breakout of the support area lying at the intersection of the key support level 0.9570 (which stopped the sharp downtrend in May, as can be seen below) and the support trendline of the daily down channel from June. The breakout of this support area should strengthen the bearish pressure on this currency pair. AUD/CAD is expected to fall further toward the next sell target at the next support level 0.9500.

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