AUDCAD - Short with caution
Market has been bearish for a few months now and even made a new low since Oct'20. This force can continue only if it can break the next Monthly Support zone as indicated by pink area. If it does, wait for retracement from Daily support zone back towared the Monthly support-turn-resistance zone and wait for bullish price action to confirm this.
Potentially, although less likely, price is going to break the downtrend line and continue the Daily consolidation phase towards the next Monthly support.
Potentially, although less likely, price is going to break the downtrend line and continue the Daily consolidation phase towards the next Monthly support.
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