AUDCAD Wave Analysis – 11 October, 2021

• AUDCAD reversed from support zone

• Likely to rise to resistance level 0.9200

AUDCAD currency pair recently reversed up from the support zone set between the pivotal support level 0.9110 (previous monthly low from August) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous impulse waves 3 and (3).

Given the strength of the aforementioned support zone, AUDCAD currency pair can be expected to rise further toward the next resistance level 0.9200 (top of wave 2 from last month).