AUDCAD currency pair recently reversed down from the resistance area located between the key resistance level 0.92500 (former lower boundary of the sideways price range from the middle of May – acting as resistance after it was broken recently) and the 50% Fibonacci correction of the downward price impulse 1 from the middle of last month. Given the multi-month downtrend – AUDCAD currency pair can be expected to fall further toward the next support level 0.91500 (former low of the impulse wave 1 from the end of July).
