AUDCAD currency pair recently reversed from the resistance area located between the resistance level 0.92500 (former support from the middle of April), 20-day moving average and the 38.2% Fibonacci correction of the previous sharp downward impulse from the start of last month. The downward reversal from this resistance area stopped the previous sharp
correction 2. Given the continued Australian dollar bearishness – AUDCAD currency pair can be expected to fall further toward the next support level 0.90500 (low of the previous minor impulse wave 1).
AUDCAD reversed from resistance level 0.92500; Likely to fall to support level 0.90500;
