AUDCAD under bearish pressure after the earlier breakout of the support area lying between the key support
level 0.8900 (which has been reversing the price in the last three months) and the support trendline of the daily
up channel from October.
Given the predominantly bearish Australian dollar sentiment seen across the markets today – AUDCAD is likely
to fall toward the next multi-month support level 0.8830 (intersecting with the lower daily Bollinger Band) – from
where the price is likely to correct up.