AUDCAD Wave Analysis – 28 August, 2020

• AUDCAD broke daily down channel

• Likely to rise to 0.9655

AUDCAD recently broke the resistance trendline of the daily down channel from July (which enclosed the previous ABC correction (A)).

The breakout of this down channel coincided with the breakout of the resistance level 0.9545 (top of the previous correction B).

AUDCAD is expected to rise further toward the next resistance level 0.9655 – target price for the completion of the active wave (B))