AUD/CAD: buy target - 1.0200
By: Dmitriy Chernovolov
- AUD/CAD broke multiple resistance levels
- Next buy target - 1.0200
AUD/CADhas been rising sharply in the last few trading sessions inside the 5th minor impulse wave 5 of the (C)-wave of the primary ABC correction ② from September. The active (C)-wave earlier broke the daily up channel from September, the resistance level 0.9850 (previous buy target set for this currency pair) and more recently – the price broke through the parity.
The price today broke the next strong resistance level 1.0080 (which reversed the pair sharply in January, as you can see below). If the price closes today above 1.0080 - AUD/CAD can then rise to the next buy target 1.0200.