AUDCAD Wave Analysis – 24 October, 2019

• AUDCAD reversed from resistance zone
• Likely to fall to 0.8880

AUDCAD recently reversed down from the resistance zone lying between the round resistance level 0.9000, upper daily Bollinger Band and the resistance trendline of the daily down channel from April.

The downward reversal from this resistance zone started the active impulse wave 3 – which belongs to wave (3) from the start of October.

AUDCAD is expected to fall further and retest the next support level 0.8880 (low of the previous impulse wave 1).