AUDCAD Wave Analysis – 12 March 2026

AUDCAD: ⬇️ Sell

– AUDCAD reversed from resistance area

– Likely to fall to support level 0.9600

AUDCAD currency pair reversed from the resistance area between the key resistance level 0.9735 (which stopped wave i at the end of February) and the upper daily Bollinger Band.

The downward reversal from this resistance area will most likely form the daily Japanese candlesticks reversal pattern Bearish Engulfing.

Given the strength of the resistance level 0.9735 and the bearish divergence on the daily Stochastic, AUDCAD currency pair can be expected to fall to the next support level 0.9600.