AUDCAD Wave Analysis – 03 March, 2020

• AUDCAD reversed from support zone
• Likely to rise to 0.8850

AUDCAD recently reversed up from the support zone lying between the key support level 0.8615, lower daily Bollinger Band and the support trendline of the daily down channel from the start of January.

The upward reversal from this support zone started the active short-term corrective wave 4.

AUDCAD is likely to rise further toward the next resistance level 0.8850 (former multi-month support from October and the target for the completion of the active wave 4).