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Oct 16, 2018 11:12 AM

AUD/CAD (Daily Chart) - One More Leg Down? Short

Australian Dollar/Canadian DollarFXCM

Description

This pair has fallen quite a bit, but it looks like it might still have one more leg of decline left.

After bouncing up from the strong support level, prices were unable to stay up long, and ultimately formed a bearish pin bar.

Since prices were rejected on the upside, there is a strong possibility that prices will head down to test the support again.
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