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Aussie has been losing value against the loonie for quite some time, thus making the formation of a Channel Down pattern inevitable. It is worth mentioning that pattern's quality, due to volatile trading in the middle of the pattern is slightly below average. However, pairs magnitude of possible movements there for is above average and traders could expect significant relative gains from the pairs movements. Technical indicators suggest that pair is likely to move along the patter's resistance and only then movement to wards the pattern's support should start.
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