Categories: Technical analysis

AUDCAD Wave Analysis – 24 June, 2020

• AUDCAD reversed from resistance level 0.9415

• Likely to fall to 0.9300

AUDCAD recently reversed down from the resistance area set between the resistance level 0.9415 (which stopped the earlier waves (A) and B) and the upper daily Bollinger band.

The downward reversal from this resistance zone continues the active short-term impulse wave C – which is a part of the longer ABC correction (B) from the start of June. Given the strength of the resistance level 0.9415  – AUDCAD is likely to fall further toward the next support level 0.9300 (low of the previous wave A).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: AUDCAD

Recent Posts

ANF Wave Analysis 29 April 2024

ANF reversed from key support level 113.40 Likely to rise to resistance level 132.31 ANF…

13 hours ago

GBPUSD Wave Analysis 29 April 2024

- GBPUSD rising inside minor correction 2 - Likely to rise to resistance level 1.2700…

13 hours ago

Crypto Market Retreats Due to Overhang of Sellers

Market picture The crypto market has lost 3.3% in the last 24 hours to $2.3…

23 hours ago

USDJPY Wave Analysis 26 April 2024

- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…

3 days ago

Ebay Wave Analysis 26 April 2024

- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…

3 days ago

False Alert with Yen Interventions?

Even though the Bank of Japan left the key rate and parameters of the QE…

4 days ago

This website uses cookies