| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
The Australian Dollar has been trading in a three-month descending channel pattern against the Canadian Dollar. The channel pattern was formed on April 16 and has been guiding the pair lower during the past three months.
Most likely, the AUD/CAD currency pair could continue its southern movement during the following trading sessions. The potential downward swing will be near the bottom border of the descending channel pattern at 0.8883.
However, the currency exchange rate might reverse north from a support level at 0.9022 and aim for a resistance cluster formed by the 55-, 100– and 200-hour SMAs at 0.9135 in the short-term future.