AUDCAD Wave Analysis – 27 May, 2020

• AUDCAD reversed from resistance level 0.9200

• Likely to fall to 0.9030

AUDCAD recently reversed down sharply from the resistance zone lying between the resistance level 0.9200 (set as the likely upward target in the previous report for this currency pair) and the upper daily Bollinger Band.

The downward reversal from the resistance level 0.9200 stopped the C-wave of the previous extended correction (4).

AUDCAD is likely to fall further toward the next support level 0.9030 (low of the 2 earlier corrections (iv) and iv)).