Technical analysis

AUDCAD Wave Analysis – 26 June 2023

– AUDCAD broke key support level 0.8800

– Likely to fall to support level 0.8700

AUDCAD under the bearish pressure after the price broke the key support level 0.8800 (which stopped the previous sharp downward impulse wave (1) at the end of May).

The breakout of the support level 0.8800 should accelerate the active intermediate impulse wave (3).

Given the clear multi-month downtrend, AUDCAD can be expected to fall further toward the next support level 0.8700.

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