AUDCAD and MA200

On the weekly time frame, we see the pair retreat after reaching the previous high at 0.80000, testing the currently moving averages of MA20 and EMA20. The zone supports us at 0.75350 and the Fibonacci 23.6% level at 0.74180. We are expected to see a decline in the coming period as the dollar strengthened against other currencies in the basket. Looking at the bigger picture, we are still in a bigger bullish trend, and this is just a pullback.