October 13, 2020 at 03:30PM
• AUDCAD broke support trendline
• Likely to fall to 0.9385 and 0.9300
AUDCAD continues to fall after the earlier breakout of the multi-month support trendline from the middle of May.
The breakout of this support trendline should accelerate the active short-term impulse waves (iii) and 1.
AUDCAD is likely to fall further toward the next support level 0.9385 (low of the daily Morning Star from September) – the breakout of which will lead to further losses toward 0.9300 (former strong support from June).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audcad-wave-analysis-13-october-2020-2-20201013/
Selected by fonecable.com
- Long DJIA on Reflation and Infrastructure: Q2 Top Trading Opportunities
- USD Recovery and Resistance Hurdles: Q2 Top Trading Opportunities
- Gold Bearish Price Series Emerges amid Failure to Test March High
- NEWS: GBPUSD corrects into the close April 12, 2021 at 08:29PM
- NEWS: Italy to roll out new 40 billion euro stimulus package – report April 12, 2021 at 08:14PM