AUDCAD recently reversed up from the support zone located between the pivotal support level 0.94400 (former strong resistance from June and the low of the previous wave (a)), 61.8% Fibonacci correction of the upward impulse from June and the lower daily Bollinger band. Given the moderately bullish Australian dollar sentiment seen across the FX markets today – AUDCAD is likely to rise further toward the next resistance level 0.96000 (target price for the completion of the active minor correction (b)).
