AUDCAD has been travelling in a descending channel and the most recent interaction with the channel was the top.Price hit the top of the channel ,came back down and has reached a major support zone.
Price will either break below the support zone, come back up to retest it. We could then see a large rally down, however if price makes a higher high and breaks above the channel we could see a very large rally upwards.
Price will either break below the support zone, come back up to retest it. We could then see a large rally down, however if price makes a higher high and breaks above the channel we could see a very large rally upwards.