Technical analysis

AUDCAD Wave Analysis – 7 July 2023


– AUDCAD rising inside minor correction 2

– Likely to rise to resistance level 0.9000

AUDCAD currency pair continues to rise strongly inside the minor correction 2, which started earlier from the key support level 0.8800.

The pair formed the daily candlesticks reversal pattern Morning Star near the support level 0.8800 which testifies to the strength of this support level.

AUDCAD currency pair can be expected to rise further toward the next resistance level 0.9000 (target price for the completion of the active correction 2).

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