Categories: Technical analysis

AUDCAD Wave Analysis – 1 June, 2020

• AUDCAD broke resistance zone

• Likely to rise to 0.9300

AUDCAD recently broke through the resistance zone lying between the two close resistance levels: 0.9200 and 0.9150 (multi-month high from December of 2019).

The breakout of this resistance zone should accelerate the active short-term impulse waves (iii) and C.

AUDCAD is likely to rise further toward the next resistance level 0.9300 (target price for the completion of the active impulse wave (iii)).

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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