AUD/CAD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since the very end of May, the Australian Dollar has been in the up-trend versus its Canadian peer that pushed the pair into a 155-bar long channel up pattern.
For the last 14 hours, the pair has been locked between the 50-hour SMA at 1.0208 and the pattern's support at 1.0199; however, given a positive mood on the SWFX, we may expect the pair to attempt to jump above the lid put by the short-term SMA. According to the SWFX, 68% of market participants are bullish on the par, while only 32% hold the bearish view.
© Dukascopy Bank SA
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