AUDCAD Wave Analysis 30 December 2024

– AUDCAD reversed from resistance level 0.8980

– Likely to fall to support level 0.8900

AUDCAD currency pair recently reversed down from the key resistance level 0.8980 (former support from the start of December) intersecting with the 38.2% Fibonacci correction of the downward impulse from last month.

The downward reversal from the resistance level 0.8980 continues the active short-term impulse wave c of the ABC correction 2 from the end of September.

AUDCAD currency pair can be expected to fall to the next support level 0.8900 (former support from August and the target price for the completion of the active wave 2).