AUD/CAD Failed at 1.00. Is 0.9768 Next?AUD/CADOANDA:AUDCADTrade-LeanAUD/CAD had a huge run this year, from about 0.915 in January all the way up to 1.0013 on September 22nd. And that's about where it stopped. The very next day it gave back most of a week's gains. Then came October 15th, a big down day that took it from 0.9925 to as low as 0.9791. It hasn't closed above 0.99 since. Wednesday tried, got to 0.9910, and faded straight back. So I think the bigger move from here is lower, toward 0.9768. That's the R1 level on this year's map, and it sits just under that October low, so it would need a new low for the quarter to get there. Now, it might not go in a straight line. In the short term I wouldn't be surprised by a small bounce toward 0.984 first. That wouldn't change anything for me. I'm wrong if it gets to 0.9919 first. That's the red line, and it would mean buyers took back everything since the October 15th drop.