AUDCAD Wave Analysis – 11 November, 2022

• AUDCAD broke the resistance level 0.8835

• Likely to rise to resistance level 0.8965

AUDCAD recently broke the resistance level 0.8835 (top of wave (a) from the end of October, former support from September).

The breakout of the resistance level 0.8835 was preceded by the breakout of the resistance trendline of the weekly down channel from April – which accelerated the active impulse wave (c).

AUDCAD can be expected to rise further toward the next resistance level 0.8965 (former double top from September and the forecast price for the completion of the active wave c).