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At the moment the pair is fluctuating around the upper trend line of the Broadening Falling Wedge pattern that formed at 14th of May. In the perfect scenario the break-out should be to the upside in this case; however, we expect to see at least one more bearish wave as the pair rebounded from the down-trend resistance recently. The strongly bearish sentiment (71% of the traders expect the pair to decline) also strengthens the scenario, where the pair weakens. Nonetheless, the pair's bears will have to do their best to drag AUD/CAD below the cluster of support levels (weekly S1, 200-perios SMA and monthly PP at 1.0113/1.0093) slightly lower.
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