AUD/CAD reversed from powerful resistance 1.0090
- AUD/CAD reversed from powerful resistance 1.0090
- Next sell target - 0.9900
AUD/CAD recently reversed down sharply from the powerful resistance level 1.0090 (which reversed the earlier primary impulse wave ① in December, as can be seen from the daily AUD/CAD chart below). The downward reversal from this resistance level created the daily Japanese candlesticks reversal pattern Falling Star – which stopped the previous sharp impulse wave 3.
Given the strength of the resistance level 1.0090 - AUD/CAD is expected to correct down further toward the next sell target at the support level 0.9900 – from where the pair is likely to resume the upward movement.