AUDCAD formed a bearish reversal pattern.

The AUDCAD pair just hit the 1D MA50 (blue trend-line) after a rejection on the 0.95200 level. This resembles the February 25 2021 rejection of a similar 1-6 fractal in late 2020/ early 2021. We do expect a test of the 0.89125 low by Q3, however are prepared to take the loss and turn to buying if 0.95200 breaks, which is the invalidation line.

Most recent AUDCAD signal:

Tradingview link:

https://www.tradingview.com/chart/AUDCAD/aw8G5MKn-AUDCAD-formed-a-bearish-reversal-pattern