Because of the momentum shooting through this area due to news there is a lot of pressure that will push price to upside once touched. It also helps that this area is very small meaning i do not have to wait for price action but put a limit order that will get an immediate bounce on touch. It also helps that this trade lines correlates and lines up with other pairs. Along with this analysis , aud is becoming stronger than cad.
Comment:
trade is now on the back side . to go short. market trend has changed
area