Technical Strategy: Turning
Elliottwave View: Expecting completion of wave (C) of c.
AUDCAD was trading sideway from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We experienced a bounce from 9170 area in May-2015. However, upside was corrective and can be counted as in . With that in mind, we are expecting correction should be over sooner and can be seen impulsive declined from 1.022 to 1.023 area.
We are waiting for decline and it's confirmation before entering into market. Until then we are sideline and looking into future development.