AUD/CAD broke support zone

AUD/CAD broke support zone

2021-11-11 • Updated

  • AUD/CAD broke support zone
  • Next sell target - 0.9980

AUD/CAD continues to fall in the sharp c-wave, which belongs to the minor ABC correction 2 from the middle of March. The active wave c earlier broke through the support zone lying between the support level 1.0160 (which stopped previous wave (a)), support trendline of the daily up channel from January and the 38.2% Fibonacci correction of the upward impulse 1.

AUD/CAD is expected to fall to the next sell target at the support level 0.9980 (low of the previous (ii)-wave from February and the target price for the completion of the active wave 2).

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