AUDCAD Wave Analysis – 29 October, 2019

AUDCAD reversed from support zone
Likely to rise to 1.4550

AUDCAD recently reversed up from support area lying between the support level 0.8900 (which formed the daily reversal pattern Morning Star in the middle of October) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the earlier impulse waves 3 and (3).

AUDCAD is expected to rise further and retest the next round resistance level 0.9000 (which reversed previous waves A, (2) and 2).

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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