AUDCAD Wave Analysis 16 March, 2021

• AUDCAD broke support level 0.9680

• Likely to reach support level 0.9600

AUDCAD currency pair recently broke the support level 0.9680 (low of the previous wave A of the active ABC correction (2) from the end of February).

The breakout of the support level 0.9680 accelerated the active short-term nested impulse waves (i) and C.

AUDCAD currency pair is likely to fall further toward the next support 0.9600 (target price for the completion of the active impulse wave (i)).