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AUDCAD currency pair recently reversed up from the key support zone located between the key support level 0.89700 (previous monthly low from the start of December) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous short-term impulse wave 1. Given the oversold daily Stochastic and the rising AUD bullishness as seen across the FX markets today – AUDJPY currency pair can be expected to rise further toward the next resistance level 0.90500.
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