• AUDCAD reversed from support level 0.9300
• Likely to rise to resistance level 0.9450
AUDCAD currency pair recently reversed up from the key support level 0.9300 (low of the previous minor correction 2 from the start of November, as can be seen below) – strengthened by the lower daily Bollinger Band. The upward reversal from the support level 0.9300 stopped the previous impulse waves 3 and (3).
Given the strength of the aforementioned support level 0.9300 and the strengthening bullish AUD sentiment seen today – AUDCAD currency pair can be expected to rise further toward the next resistance level 0.9450 (former support from April – which stopped the previous impulse wave (1)).