Technical analysis

AUDCAD Wave Analysis – 24 June, 2021

• AUDCAD reversed from support zone

• Likely to rise to resistance level 0.9350

AUDCAD recently reversed up with the daily candlestick pattern Bullish Engulfing from the support zone lying between the key support level 0.9265 (which has been reversing the price from October) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous corrective wave (2).

AUDCAD can then be expected to rise further toward the next resistance level 0.9350 (top of the trading session from Monday)

Article Rating
Rate this post