AUD/CAD falling minor impulse wave 3

AUD/CAD falling minor impulse wave 3

  • AUD/CAD falling minor impulse wave 3
  • Next sell target - 0.9670

AUD/CAD continues to fall inside the minor impulse wave 3 which recently reversed down from the pivotal resistance level 0.9870 (which is the lower boundary of the strong resistance area, which is the former powerful support zone which has been steadily reversing this currency pair from the end of January, as can be seen from the daily AUD/CAD chart below). The upper boundary of this resistance zone stands at the resistance level 0.9930. AUD/CAD is expected to fall to the next sell target at the next support level 0.9670 (which reversed (A)-wave in January).

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The pair has been trading in a bullish tone since November 9th but currently it’s off from November 17th highs and we can expect that it finds dynamic support in the 200 SMA…

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