AUDCAD Wave Analysis

  • AUDCAD reversed from resistance level 0.9100
  • Likely to fall to support level 0.9015

AUDCAD earlier reversed down from the pivotal resistance level 0.9100 (which has been repeatedly reversing the price from the start of April).

The downward reversal from the resistance level 0.9100 is the 4th consecutive downward reversal from this price level – signalling its strength.

Given the strength of the resistance level 0.9100, AUDCAD can be expected to fall further toward the next support level 0.9015 (yesterday’s low).

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading