AUD/CAD
The AUD/CAD pair is on the verge of completing a classic Elliot ABC correction move. Technically speaking, this is an opportunity to catch the low point of the technical correction and rejoin a renewed upwards trend that is expected to begin with the end of the bearish correction.
Estimates are that the pair is primed and ready to begin an upwards movement after being braked by the 0.9970 support level while forming a Japanese bullish hammer reversal pattern . That said, the buy deal itself should only be entered after we recognize a daily close over the 0.9860 resistance level - our buy deal trigger. The exit goal should be marked near the strong resistance level of 1.0200 Canadian dollars per Australian dollar.
