Technical analysis

AUDCAD Wave Analysis – 15 July, 2021

• AUDCAD reversed from resistance level 0.9350
• Likely to fall to support level 0.9265

AUDCAD currency pair recently reversed down from the resistance level 0.9350 (which has been reversing the pair from the middle June), standing near the upper daily Bollinger band.

The downward reversal from the resistance level 0.9350 is aligned with the clear multi-month downtrend that can be seen on the daily AUDCAD charts.

AUDCAD currency pair can be expected to fall further toward the next powerful support level 0.9265 (which has been reversing the pair from last October).

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