Previously, The AUDCAD Formed a Bearish Double TOP Pattern. Currently, The Price Broke The Support Level (0.87950 - 0.87662). So, I Predict a Bearish Move. ------- TARGET: 0.86880🎯
The inflationary pressure in the US usually lead to bearish stocks, a bearish move on stocks tend to put more pressure on commodity linked pairs like AUDCAD. So i think your idea is correct speaking both technicals and fundamentals!