FullTimeTrader
Short

AUDCAD-broke consolidation area and bouncing from it

FX:AUDCAD   Australian Dollar/Canadian Dollar
247 0 6
Last weeks this pair has been bouncing between a consolidation area.
Now the price has broken the low and is bouncing from it.
Fundamental analisis:
Yesterday the deputy Governor of the RBA commented that reducing interest rates “would be effective.” This was from a speech made at a bankers dinner and the Aud has now broken multi year lows so we could be on for a BIG drop here.
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