AUDCAD Wave Analysis 23 January 2025
- AUDCAD broke round resistance level 0.9000
- Likely to rise to resistance level 0.9080
AUDCAD currency pair recently broke the round resistance level 0.9000 (which stopped the previous wave 4 at the start of January)
The breakout of the resistance level 0.9000 coincided with the breakout of the 50% Fibonacci correction of the previous downward impulse from December and the daily down channel from September – which accelerated the active impulse wave 1.
AUDCAD currency pair can be expected to rise toward the next resistance level 0.9080 (top of wave b from the middle of December).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
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Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
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