IanDobbs
Long

AUDCAD at key long term support.

FX:AUDCAD   Australian Dollar/Canadian Dollar
82 2 1
AUDCAD             is in a key support zone where a number of lows have been made over the last 2 years. It's been one way traffic down so far and a corrective bounce would be healthy. There is a very good chance that bounce could come from current levels. Everyone is bearish AUD and the market must be positioned a little short here. I'm looking for a move toward 1.0800 initially. Above there 1.0200
Now, if you still care, you've got some bottom in AUDCAD...
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The problem is you never know that it's over. It ain't over till it's over. However, it doesn't look like the major low yet. Very few major lows have no wick/shadow like this one.
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