If we look at the daily chart of AUDCAD, we can see that the price is at a strong support level of 0.95392. Tenkan Sen is flat, indicating that we are likely to see some consolidation in the short term. Future Kumo is bearish with Senkou Span A diverging From Senkou Span B, suggesting lower prices to come. Should the support level at 0.95392 be broken, then a short position would be favoured.

Chart

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