AUDCAD Wave Analysis – 1 July, 2022

• AUDCAD under bearish pressure
• Likely to fall to support level 0.8750

AUDCAD is under strong bearish pressure after the pair broke the key support level 0.889 (which has been reversing the pair since January).

The pair earlier made a failed attempt to break back above the aforementioned price level 0.889, acting as strong resistance after it was broken.

AUDCAD can be expected to fall further toward the next support level 0.8750 (target for the completion of the active minor impulse wave (iii)).