AUD/CAD: buy targets - 0.9960 and 1.0000
By: Dmitriy Chernovolov
- AUD/CAD reached buy target 0.9850
- Next buy targets - 0.9960 and 1.0000
AUD/CAD has been rising sharply in the last few trading sessions inside the intermediate impulse wave (3) – which previously broke through the resistance level 0.9850, which was set as the buy target in our previous forecast for this currency pair. The active impulse wave (3) started earlier this month – when the price reversed up sharply from the support zone surrounding the support level 0.9650.
AUD/CAD is currently trading close to the resistance trendline of the daily down channel from December. If the price breaks this down channel – the pair will then, most likely, rise to the next buy targets at the resistance levels 0.9960 (top of impulse (i)) and 1.0000.