AUD/CAD: sell targets - 0.9500 and 0.9450
By: Dmitriy Chernovolov
- AUD/CAD reached sell target 0.9600
- Next sell targets - 0.9500 and 0.9450
AUD/CAD continues to decline after recently breaking through the support level 0.9600, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level follows the earlier sharp downward reversal from the resistance zone lying between the resistance level 0.9750 and 50% Fibonacci Correction of the previous downward impulse 1 from January.
AUD/CAD is likely to fall further inside the active minor impulse wave 3 (which belongs to the intermediate impulse wave (3) from January) toward the next sell targets 0.9500 and 0.9450.