AUDCAD Wave Analysis – 29 April, 2020

AUDCAD reversed from resistance area
Likely to fall to 0.9000

AUDCAD recently reversed down from the resistance area lying between the resistance level 0.9130 (which has been reversing the price from September) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the earlier medium-term ABC correction (2) from the middle of March.

AUDCAD is expected to fall further toward the next support level 0.9000 (former resistance level from January and February).

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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