Technical analysis

AUDCAD Wave Analysis – 11 November, 2021

AUDCAD Wave Analysis – 11 November, 2021

• AUDCAD reversed from support level 0.9130

• Likely to rise to resistance level 0.9235                                                                  

AUDCAD currency pair recently reversed up from the key support level 0.9130 (which has been reversing the pair from August), intersecting with the lower daily Bollinger Band and the daily down channel from May.

The upward reversal from the support level 0.9130 will form the daily Bullish Engulfing – if the pair closed today near the current levels.

AUDCAD can be expected to rise further toward the next resistance level 0.9235 (which has been reversing the price from the start of November).

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