AUDCAD Wave Analysis

AUDCAD technical (wave) analysis flags a bullish setup: the pair reversed higher from a support zone around 0.9760 (also the 38.2% Fibonacci retracement of the March impulse), initiating a short-term impulse wave 3 within a larger wave (5) from November. Given the prevailing daily uptrend, the report expects AUDCAD to push toward the next resistance at 0.9870 (the top of the prior impulse). Market implication: technicians and short-term FX traders may view this as a buy signal, supporting AUD strength versus CAD until the 0.9870 resistance is tested or momentum exhausts.