AUDCAD-bounce trading on long term support

This pair is very bearish but at this stage after a speech this morning from RBA Stevens i think the dust settled. The AUD is expected to weaken more long term.

But the CAD is very oversold and i this pair will make a small correction, break this strong support and continue the bearish rally.

We see the price is bouncing from a strong level of support on W1 chart


On D1 chart there is an AB=CD pattern:


Here on H1 chart we see also an AB=CD pattern and the S1 pivot support holding the price.

I prefer to trade this on lower timeframes to take profits as soon as possible.

Bes regards