Categories: Technical analysis

AUDCAD Wave Analysis – 27 May, 2020

• AUDCAD reversed from resistance level 0.9200

• Likely to fall to 0.9030

AUDCAD recently reversed down sharply from the resistance zone lying between the resistance level 0.9200 (set as the likely upward target in the previous report for this currency pair) and the upper daily Bollinger Band.

The downward reversal from the resistance level 0.9200 stopped the C-wave of the previous extended correction (4).

AUDCAD is likely to fall further toward the next support level 0.9030 (low of the 2 earlier corrections (iv) and iv)).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: AUDCAD

Recent Posts

S&P 500 Wave Analysis 7 May 2024

- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…

7 hours ago

USDCHF Wave Analysis 7 May 2024

- USDCHF reversed from support zone - Likely to rise to resistance level 0.9200 USDCHF…

7 hours ago

EURUSD at the equilibrium, where will it go next?

The single currency is trading near $1.076, waiting for further cues and facing serious resistance…

12 hours ago

Bitcoin can’t accelerate but won’t give up trying

Market picture  The crypto market capitalisation fell by 1.7% in 24 hours to $2.29 trillion,…

17 hours ago

USDJPY Wave Analysis 6 May 2024

- USDJPY reversed from support zone - Likely to rise to resistance level 155.65 USDJPY…

1 day ago

Gold Wave Analysis 6 May 2024

- Gold reversed from support zone - Likely to rise to resistance level 2400.00 Gold…

1 day ago

This website uses cookies