• AUD/CAD rising inside impulse wave (3)
• Further growth is likely
AUD/CAD continues to rise inside the medium-term impulse wave (3), which previously broke through the resistance zone lying between the major resistance level 0.9850 (which reversed earlier waves 4 and (1)) and the 38.2% Fibonacci correction of the previous downward price impulse from the middle of March.
The breakout of this resistance zone accelerated the active intermediate impulse wave (3) – which belongs to the long-term ABC correction Ⓒ from May.
AUD/CAD is likely to continue to rise toward the next resistance at parity (target price calculated for the completion of the active impulse wave (3)).