AUDCAD is testing resistance, potential for a drop

Price is testing our first resistance at 0.95665, in line with our 50% Fibonacci extension, 76.4% Fibonacci retracement, and horizontal swing high resistance. It could potentially reverse from here and drop further to our first support at 0.95526, in line with our 100% Fibonacci extension, 50% Fibonacci retracement and horizontal swing low support. It is also worth noting that the Stochastic indicator is also approaching the resistance level at 95.94.

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