AUD/CAD at an excellent support level. This is the previous breakout level where the market had tested the level several tines before breaking out, thus it is a key level in terms of the support and resistance. Expect the pair to bounce from here as the oscillators on the hourly time frame are also looking oversold. Some mean reversion can be expected and this is the right level from where we can get it.
Trade closed: target reached:
70 pips in the trade. Time to take the profits.