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AUD/CAD broke above parity

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  • AUD/CAD broke above parity
  • Next buy target - 1.0100

AUD/CAD continues to rise after the recent breakout of the resistance zone lying between the parity and the 38.2% Fibonacci correction of the previous intermediate ABC correction (2) from the start of May. The breakout of this resistance zone should accelerate the active intermediate impulse wave (3) – which started earlier from the support zone lying between the support level 0.9800 and the support trendline of the daily down channel from May. AUD/CAD is expected to rise to the next buy target at the next resistance level 1.0100.

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