AUD/CAD reversed from resistance area

AUD/CAD reversed from resistance area

  • AUD/CAD reversed from resistance area
  • Next sell target - 0.9770.

AUD/CAD continues to fall after the earlier downward reversal from the resistance area lying between the key resistance level 0.9900 (previous buy target), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from August. The downward reversal from this resistance area started the active impulse wave (iii). AUD/CAD is expected to fall to the next sell target at the next support level 0.9770.

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