Ransquawk

AUDCAD in mid-December broke out from a wedge formation and the price continued growing for few days before a correction took place. As can be seen on the daily chart below, the withdrawal has led the pair back to the broken resistance of the wedge, which now provides support.
Looking at the momentum of the impulse that led to the breakdown and the course of the current correction, it seems that there is a good chance of returning to growth.
If the growth scenario is implemented, after breaking the last maximums at 0.9880, buyers will have to face placed a little higher horizontal resistance within 0.9900. Only its defeat will open the way for further growth towards 1.0050.

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Ransquawk