September 22, 2020 at 03:10PM

• AUDCAD reversed from resistance zone

• Likely to fall to 0.9500

AUDCAD recently reversed down from the resistance zone lying between the strong resistance level 0.9700 (which stopped the previous sharp impulse wave (C) in July) and the upper daily Bollinger Band.

The downward reversal from this resistance zone started the active intermediate corrective wave (C).

AUDCAD is expected to fall further toward the next support level 0.9500 (low of the previous short-term correction B the start of September).

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From: The FxPro Tech Analysis Team
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