AUDCAD recently reversed up sharply from the key support area lying between the strong support level 0.8900 (which has been reversing the price from the start of August, as can be seen below) and the lower daily Bollinger Band. This support area stopped the previous impulse wave 1 with the Morning Star earlier this month. Given the strength of the aforementioned support area – AUDCAD is likely to rise further toward the next resistance level 0.9020 (which stopped the four previous corrections – 4, A, C and 2).
