Market Snapshots

AUDCAD Wave Analysis – 1 June, 2020

AUDCAD Wave Analysis – 1 June, 2020

• AUDCAD broke resistance zone

• Likely to rise to 0.9300

AUDCAD recently broke through the resistance zone lying between the two close resistance levels: 0.9200 and 0.9150 (multi-month high from December of 2019).

The breakout of this resistance zone should accelerate the active short-term impulse waves (iii) and C.

AUDCAD is likely to rise further toward the next resistance level 0.9300 (target price for the completion of the active impulse wave (iii)).

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