AUD/CAD: sell targets - 0.9400 and 0.9350
By: Dmitriy Chernovolov
- AUD/CAD reached sell target 0.9450
- Next sell targets - 0.9400 and 0.9350
AUD/CAD has been under strong bearish pressure lately – falling inside the minor impulse wave (iii) – which belongs to the 3rd impulse wave 3 - which started earlier , when the pair reversed down from the strong resistance level 0.9750 (as you can see from the daily AUD/CAD chart below). The price earlier reached the support level 0.9450, which was set as the sell target in our previous forecast for this pair.
AUD/CAD is likely to fall further inside the accelerated impulse waves (iii) and 3 toward the next sell targets at the support levels 0.9400 (low of waves 1 and (b)) and 0.9350.