Technical analysis

AUDCAD Wave Analysis 12 May, 2021

• AUDCAD broke support area

• Likely to fall to support level 0.9300

AUDCAD recently broke the support area lying between the support levels 0.9500 (former monthly low from March) and 0.9450 (former monthly low from December of 2020).

The breakout of these support levels accelerated the active impulse waves 3 and (C).

AUDCAD is likely to fall toward the next support level 0.9300 (monthly low from November and the target for the completion of the active impulse wave 3).

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