AUDCAD Wave Analysis – 4 June, 2021
June 04, 2021 @ 18:04 +03:00
• AUDCAD reversed from support level 0.9265
• Likely to rise to resistance level 0.9400
AUDCAD recently reversed up from the powerful support level 0.9265 (which stopped the sharp downtrend in October) – strengthened by the lower daily Bollinger Band.
The upward reversal from the support level 0.9265 stopped the previous multi-impulse downward impulse sequence made out of the impulse waves (iii), 5 and (C).
AUDCAD can then be expected to rise further toward the next resistance level 0.9400 (top of the previous short-term correction (ii)).