AUDCAD further drop incoming | 11th June 2021

FX:AUDCAD   Australian Dollar/Canadian Dollar
AUDCAD is currently hovering above 1st resistance in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension . If prices break through 1st resistance, a further drop is expected towards horizontal overlap support in lie with 50% Fibonacci retracement and 50% Fibonacci extension . If prices reverses from 1st resistance, prices might face resistance from 127.2% Fibonacci retracement and 78.6% Fibonacci extension . MACD is also showing a bearish crossover, showing a bearish pressure for prices.

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In the point of interest rate, go short is rational.
However, I feel the resistance become weak, so I want to wait for an another reversal.