AUDCAD Wave Analysis – 19 June, 2019

AUDCAD broke support area
Further losses are likely

AUDCAD recently broke the support area lying between the key support level 0.9200 (which reversed the price in May and June) and the support trendline of the daily down channel from December.

The breakout of this support area strengthened the bearish pressure on this currency pair.

AUDCAD is expected to fall further and retest the next support level 0.9150. Strong resistance now stands at 0.9200.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: AUDCAD

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