AUD/CAD was forming Lower highs lower lows on montlhy charts since January 2012 to December 2015. In 2016 it seemed it may change the course and turn into bullish trend till this month in which it has given up nearly 40% of the gains made from April 2016 to October 2016.

Now I am expecting AUD/CAD towards monthly 200 EMA as there is a chance of OPEC crude oil production cap deal. My target for the 2nd January 2017 is 0.9620.


Tools used: 200 EMA, Trend lines, Bollinger bands and price actions.
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