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
Search Web: AUDCAD Wave Analysis – 2 September, 2020
Recent Posts
- 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
