continued up to the moment when AUDCAD hit our strong SUPPORT line (yellow) and since then it has not violated it.
We have been in a in more than half a month with AUDCAD unable to break the support line on the graph. Red line represents resistance of the current and recently it was hit, unsuccessfully again.Therefore, we should expect a short period of decline and the currency pair may try to hit support again. When it declines enough and market becomes oversold, one should expect the pair to bounce back up from the support and continue its between the yellow and red lines.
indicates a period of decrease followed by a period of increase. UNLESS some unexpected news violate the strong support.