AUD/CAD 4H Chart: Rising wedge pattern in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)BuyBuySell
Alligator(13;8;5)SellNeutralBuy
SAR(0.02;0.2)SellSellBuy
Aggregate⇒⇒⇗

[ANNOUNCE] Since the beginning of October, the AUD/ CAD currency pair has been trading upwards within a rising wedge pattern. [/ANNOUNCE] 

From a theoretical perspective, it is likely that the exchange rate could continue to trade upwards within the predetermined pattern in the nearest future. Then, a breakout north could follow. 

Meanwhile, note that the currency pair is pressured by the 55-, 100– and 200-period moving averages in the 0.9485/0.9555 range. Thus, a breakout south could occur sooner, and the pair could face the support level—the Fibo 23.60% at 0.9348.

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