Market Snapshots

AUDCAD Wave Analysis – 14 October, 2019

AUDCAD Wave Analysis – 14 October, 2019
  • AUDCAD reversed from resistance zone
  • Likely to fall to 0.8840

AUDCAD recently reversed down from the resistance zone lying between the key resistance level 0.9010 and the 61.8% Fibonacci correction of the previous downward impulse from September.

The downward reversal from this resistance zone created the daily reversal pattern Shooting Star – which started the active medium-term impulse wave (5).

AUDCAD is expected to fall further and retest the next support level 0.8840 (low of the previous impulse wave (3) from the start of October).

Article Rating