AUD/CAD: sell target - 0.9500
- AUD/CAD broke support level 0.9640
- Next sell target - 0.9500
AUD/CAD recently reversed down sharply after the pair reached the resistance level 0.9850, which was set as the buy target in our previous forecast for this currency pair. The downward reversal from 0.9850 completed the previous minor corrective B-wave and started the latest sharp downward correction C (which is a part of the intermediate ABC correction (2) from January). This C-wave earlier broke the daily Triangle from December and the strong support level 0.9640 (which has been reversing the pair from the start of February).
AUD/CAD is likely to fall further inside the active C-wave toward the next sell target 0.9500 (forecast price for the completion of the larger ABC correction (2), intersecting with the support trendline from last year).