Technical analysis

AUDCAD Wave Analysis 3 May, 2021

• AUDCAD reversed from support area

• Likely to rise to resistance level 0.9550

AUDCAD recently reversed up from the support area lying between the support level 0.9455 (monthly low from December) and support level 0.9485 (monthly low from March).

This support area was further strengthened by the lower daily Bollinger Band.

AUDCAD is likely to rise further toward the next resistance level 0.9550 (former support from the start of April).

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