AUDCAD ON A MAJOR RESISTANCE ZONE

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AUDCAD Rallied significantly to the upside and now we are witnessing a revisit back on a major resistance zone. Here we are expecting to see a potential reversal to the downside. On the following highlighted zone we have seen a strong selling pressure on the left earlier when the price meets in this region.

More importantly, the price of the AUDCAD pair has created an expanding channel and the price has created a strong upper boundary which is acting as a major resistance.