Technical analysis

AUDCAD Wave Analysis 22 February, 2021

AUDCAD Wave Analysis 22 February, 2021

• AUDCAD broke key resistance level 0.9900

• Likely to test resistance level 1.0050

AUDCAD continues to rise after breaking through the key resistance level 0.9900 (which stopped the previous shaper upward impulse wave (1) at the start of January).

The breakout of the resistance level 0.9900 accelerated the active impulse waves 3 and (3).

Given the predominant uptrend – AUDCAD can be expected to rise further toward the next resistance level 1.0050 (target price for the completion of the active impulse wave 3).

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