Technical analysis

AUDCAD Wave Analysis 11 December, 2020

AUDCAD Wave Analysis 11 December, 2020

• AUDCAD broke resistance level 0.9615

• Likely to rise to 0.9665

AUDCAD previously broke above the resistance level 0.9615 (which stopped the previous medium-term upward impulse wave (1) at the end of November).

The breakout of this resistance 0.9615 continues the active medium-term upward impulse wave (3). Given the clear daily uptrend – AUDCAD is expected to rise further toward the next resistance level 0.9665 (former monthly high from the middle of September).

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