AUD/CAD reached buy target 0.9950
- AUD/CAD reached buy target 0.9950
- Next buy targets – 1.0000 and 1.0090
AUD/CAD continues to rise in line with our previous forecast for this currency pair. The price earlier broke the resistance trendline of the wide daily down channel from December - which strengthened the bullish pressure on this currency pair. The price earlier reached the resistance level 0.9950 (top of the earlier wave 2 and the first buy target set in our previous forecast for this currency pair).
If the pair breaks above 0.9950 - AUD/CAD can then be expected to test the next major resistance at the parity – the breakout of which can lead to further gains toward the next resistance level 1.0090 (top of wave 2 from Janauray).