AUD/CAD: buy target - 0.9750
By: Dmitriy Chernovolov
- AUD/CAD reached buy target 0.9650
- Next buy target - 0.9750
AUD/CAD today broke above the resistance level 0.9650, which was set as the buy target in our previous forecast for this currency pair. The price earlier reversed up sharply from the powerful support zone lying between the support levels 0.9400 and 0.9450 (this support zone has been reversing the pair from December, as you can see below). The latest upward impulse 3 from this support zone earlier broke the resistance trendline from March.
AUD/CAD is expected to rise further in the active impulse wave 3 toward the next buy target at the resistance level 0.9750 (which reversed previous wave (ii) In May).