- AUDCAD broke support area
- Further losses are likely
AUDCAD recently broke the support area lying between the key support level 0.9200 (which reversed the price in May and June) and the support trendline of the daily down channel from December.
The breakout of this support area strengthened the bearish pressure on this currency pair.
AUDCAD is expected to fall further and retest the next support level 0.9150. Strong resistance now stands at 0.9200.