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Long

AUDCAD LONG TRADE WHILE SUPPORT TESTED

FX:AUDCAD   Australian Dollar/Canadian Dollar
143 1 5
AUDCAD             broke above the channel and after the corrective waive price is re-testing the channel which at the same time is right at the 38.2% Fibs. It is very likely that it is or very near the bottom and it could start rising to produce a double top near 0.9750 area. Besides, cycle up hasn't finished yet and it could be the fast move. Nevertheless price might range for a bit around that area, but I still believe the buying opportunity is quite good at this price.
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Break above the target should result in the longer term uptrend confirmation
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