- AUD/CAD likely ends consolidation pattern, pair has shown a nice rebound off 38.2% Fib levels at 0.9727.
- On the day, downside was rejected at 0.9784 levels, pair now trades close to 23.6% Fib levels at around 0.9817.
- A decisive breakout above 23.6% Fib will see resumption of upside, next major hurdle at 0.99 and then at 0.9970.
- Bullish invalidation only below 38.2% Fib at 0.9723, violation there could drag the pair to 0.9650 levels.
Recommendation: Good to go long on breakout above 0.9820 levels, SL: 0.9720, TP: 0.99/ 0.9970
