Technical analysis

AUDCAD Wave Analysis – 15 July, 2020

AUDCAD Wave Analysis – 15 July, 2020

• AUDCAD rising inside impulse wave (iii)

• Likely to reach 0.9600

AUDCAD continues to rise inside the short-term impulse wave (iii), which started earlier from the support level 0.9425 (former multi-candle resistance from June).

The active impulse wave (iii) belongs to the medium-term upward impulse sequence (C) from the middle of last month.

Given the strength of the uptrend visible on the daily charts – AUDCAD is likely to rise further toward the next resistance level 0.9600 (target price for the completion of the active impulse wave (iii)).

Article Rating