December 11, 2020 at 03:20PM
• AUDCAD broke resistance level 0.9615
• Likely to rise to 0.9665
AUDCAD previously broke above the resistance level 0.9615 (which stopped the previous medium-term upward impulse wave (1) at the end of November).
The breakout of this resistance 0.9615 continues the active medium-term upward impulse wave (3). Given the clear daily uptrend – AUDCAD is expected to rise further toward the next resistance level 0.9665 (former monthly high from the middle of September).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audcad-wave-analysis-11-december-2020-20201211/
Selected by fonecable.com
- What is FOMO in Trading? Characteristics of a FOMO Trader
- Analysis-In Japan, a weaker yen may not be the blessing it once was
- 10 Trading Mistakes to Avoid in Forex Trading
- The Psychology of Speculation in the Forex Market
- The New York Session: Forex Trading Tips