AUDCAD: On the 1D MA200 and top of the Channel Down. Sell.

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AUDCAD hit the 1D MA200 yesteday and came just shu off the top of the Channel Down. The 1D timeframe is technically bullish (RSI = 62.944, MACD = 0.002, ADX = 28.766) but the RSI is also near the top of its Rectangle pattern. The previous top coincided with the Channel Down rejection.

Consequently we are opening a sell now and target the S1 (TP1 = 0.874500) and if a 1D candle closes under, extend selling to the S2 (TP2 = 0.86630).

Prior idea:

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