After a three wave pattern for wave 'X' AUDCAD is expected to make a move below 0.9150.
We see a bearish impulse in progress and selling after a consolidation is what we should do. However the structure for wave (c) is complex and might turn into an ending diagonal indicating a last leg higher is needed before price will break below 0.9150. (alternative wave count (i)-(ii)-(iii)-(iv)-(v)). Short term this would not change a thing and once this bearish move progresses we will be better able to determine what to expect next.
Updates will follow
We see a bearish impulse in progress and selling after a consolidation is what we should do. However the structure for wave (c) is complex and might turn into an ending diagonal indicating a last leg higher is needed before price will break below 0.9150. (alternative wave count (i)-(ii)-(iii)-(iv)-(v)). Short term this would not change a thing and once this bearish move progresses we will be better able to determine what to expect next.
Updates will follow
The arrows are only an indication and not showing expected future price patterns.