September 02, 2020 at 03:45PM
• AUDCAD reversed from resistance level 0,9640
• Likely to fall to 0.9550
AUDCAD is currently in the profit-taking correction from the nearby resistance level 0,9640 (which reversed the previous waves (iii) and 5) located near the upper daily Bollinger Band.
The downward reversal from the resistance level 0,9640 started the active short-term corrective wave B.
With the predominantly bearish AUD sentiment affecting this currency pair today – AUDCAD is likely to fall toward the next support level 0.9550.
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audcad-wave-analysis-2-september-2020-20200902/
Selected by fonecable.com
- Mexican Peso Forecast: USD/MXN Drifts Back Above 19.90 as it Holds its Range
- Euro Week Ahead Forecast: EUR/USD Outlook Bullish, EUR/GBP Bearish
- Weekly US Dollar Fundamental Forecast: All Eyes on January Fed Meeting
- Canadian Dollar Forecast: Busy Week Ahead, GDP, Fed, IMF, Earnings Season
- Australian Dollar Capped by Falling Iron Ore Demand Ahead of Inflation Data