AUD/CAD is in uptrend on weekly and on monthly chart. Recently published economic data of both the countries is showing economic growth and rising rate hike bets. Bank of Canada started rate hike cycle in July meeting and further rate hike in October meeting is possible.

TECHNICAL ANALYSIS: AUD/CAD is in uptrend on weekly and monthly chart.
TOOLS USED: BOLLINGER BAND, ADX, COMMODITY CHANNEL INDEX CCI, MACD, FIBONACCI RETRACEMENT.
CHARTS: WEEKLY AND MONTHLY
WEEKLY CHART:
  • AUD/CAD is below the middle level of Bollinger band.
  • ADX is falling.
  • MACD is in sell mode.
  • CCI is rising.

MONTHLY CHART: AUD/CAD is in uptrend on monthly chart.
  • AUD/CAD is above the middle level of Bollinger Band.
  • ADX is falling.
  • CCI is FALLING.
  • MACD is in sell mode.


Technical indicators suggests some more fall in AUD/CAD before next rise.
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