AUD/CAD: sell target - 0.9250
By: Dmitriy Chernovolov
- AUD/CAD reached sell target 0.9300
- Next sell target - 0.9250
AUD/CAD recently corrected up – after the pair reached the support level 0.9300 (which was set as the sell target in our previous forecast for this currency pair). After breaking this support level – the pair fell to the next strong support level 0.9250 – from where it corrected up sharply to the resistance zone lying between the resistance level 0.9350 and the 38.2% Fibonacci Correction of the previous downward impulse wave from the end of August.
AUD/CAD is likely to fall further in the active impulse waves 3 and (3) toward the next sell target at the support level 0.9250 (which stopped previous impulse wave (i)).