AUDCAD is approaching our first resistance at 0.9518 (Horizontal swing high resistance, 38.2%, 50% Fibonacci retracement, 100% fibonacci extension, descending channel resistance) and a strong drop might occur pushing price down to our major support at 0.9346 (horizontal pullback support, 50% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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