AUDCAD Wave Analysis 17 January 2025

- AUDCAD reversed from support zone
- Likely to rise to resistance level 0.9000

AUDCAD currency pair continues to rise inside the minor impulse wave 1, which started earlier from the support zone located between the key support level 0.8860 (former multi month low from April) and the lower daily Bollinger Band.

The active impulse wave 1 belongs to the higher order impulse waves (1) and 1, which started from the same support area.

AUDCAD currency pair can be expected to rise to the next resistance level 0.9000, former strong support from December coinciding with the daily down channel from September.