AUDCAD Wave Analysis – 27 April, 2020

AUDCAD broke key resistance level 0.9020
Likely to rise to 0.9160

AUDCAD recently broke the key resistance level 0.9020 (which has been reversing the price from the middle of January).

The breakout of the resistance level 0.9020 coincided with the breakout of the 61.8% Fibonacci correction of the previous downward impulse from last April.

AUDCAD is expected to rise further toward the next resistance level 0.9160 (multi-month high from December and the target for the completion of the active wave C).

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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