AUDCAD Wave Analysis – 28 January, 2020

• AUDCAD trading near strong support area
• Likely to rise to 0.8950

AUDCAD is currently trading close to the strong support area lying between the key support level 0.8900 (which been reversing the price from October) and the lower daily Bollinger Band.

The aforementioned support level 0.8900 also reversed the price twice in the middle of August, as can be seen below.

AUDCAD is likely to rise further toward the next resistance level 0.8950 (former support which stopped the previous wave B).