AUDCAD index Wave Analysis 31 December, 2020

• AUDCAD rising inside impulse wave (3)

• Likely to reach 0.9900

AUDCAD continues to inside the sharp upward impulse wave (3) – which previously broke above the key resistance level 0.9665 (which has been repeatedly reversing this currency pair from July).

The breakout of the resistance level 0.9665 accelerated the active upward impulse waves 5 and (3).

AUDCAD index is expected to rise further to the next resistance level 0.9900 (target price for the completion of the active impulse sequence (3).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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