AUDCAD Wave Analysis – 28 May, 2019

AUDCAD reversed from support area
Further gains are likely

AUDCAD recently reversed up with the daily Morning Star from the support area lying between the support level 0.9210 and the lower daily Bollinger Band.

This support area was further strengthened by the support trendline of the wide down channel from last December.

AUDCAD is expected to rise further and retest the next resistance level 0.9350 (former support level from the start of May).

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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