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While the USDCAD is drifting in space, the Aussie backed major has obviously made a big move of its own.
Two prominent trendlines have fallen (the one not on here goes back nearly a year). At the same time a confluence of bigs have been taken out and most recently the 100-day SMA.
For a break,this 120 point run is what I like to see in a big move. Too bad I wasn't watching this pair for a potential breakout....
Looks like 0.94 is standing in as the next significant level of support; but I'm not going to trade on this just yet. A continuation is risk with the coming four trading days' event risk, so it is probably best to look for a retracement for a better price instead of betting on a break through 0.94 and 0.93.
Anyone prophetic enough to have traded the initial break?
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