Technical analysis

AUDCAD Wave Analysis – 3 July, 2019

AUDCAD Wave Analysis – 3 July, 2019
  • AUDCAD reversed from support area
  • Further gains are likely

AUDCAD recently reversed up from the support area lying between the key support level 0.9100 (which stopped the sharp downtrend in October of 2018) and the lower daily Bollinger Band.

This support area was further strengthened by the lower support trendline of the wide daily down channel from last December.

AUDCAD is expected to rise further and retest the next resistance level 0.9220 (former key support from May).

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