Categories: Technical analysis

AUDCAD Wave Analysis – 25 May, 2020

• AUDCAD reversed from support level 0.9125

• Likely to rise to 0,9200

AUDCAD recently reversed up from the key support level 0.9125 (former strong resistance level which stopped the previous impulse waves (iii) and (v), as can be seen below).

The upward reversal from the support level 0.9125 started the active short-term impulse wave (v) – which belongs to the C-wave of the ABC correction (4) from March.

AUDCAD is likely to rise further toward the next resistance level 0,9200 (likely price for the completion of the active ABC correction (4)).

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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