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AUDCAD recently reversed up from the combined support zone located between the key support level 0.94200 (former monthly low from August) and the lower daily Bollinger Band – which stopped the previous impulse wave C. Given the clear multi-month uptrend and the moderately bearish Canadian dollar sentiment – AUDCAD is likely to rise further toward the next resistance level 0.95000 (former support from the start of September, which stopped the previous minor wave (b)).
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