• AUDCAD reversed from support zone
• Likely to rise to resistance level 0.9236
AUDCAD recently reversed up from the combined support area located between the multi-month support level 0.9133 (which has been reversing the pair from the end of July) and the lower daily Bollinger band. The upward reversal from this support zone stopped the previous intermediate impulse wave (3) from the start of November.
Given the strength of the aforementioned support area, AUDCAD currency pair can be expected to rise further toward the next resistance level 0.9236 (top of the earlier intermediate correction (2) from the start of this month).