AUDCAD currency pair recently broke the pivotal support level 0.92500 (previous multi-month low from last October and the lower boundary of the sideways price range inside which the pair has been trading from the middle of May). The breakout of the support level 0.92500 accelerated the active short-term impulse wave 3 of the longer-term downward impulse wave (3). Given the strong bearish Australian dollar sentiment seen across the FX markets today – AUDCAD currency pair can be expected to fall further toward the next support level 0.91000 (target price for the completion of the active impulse wave 3).
