| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Buy | Neutral | Neutral |
| Stochastic (5; 3) | Buy | Buy | Neutral |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇒ |
The AUD/CAD exchange rate has been trading in a descending channel for the last two months. This pattern was formed when the pair failed to accelerate and reach the upper boundary of the senior channel.
This bearish momentum has sent the rate close to the other channel line located near 0.9525. Following a few sessions of sideways movement near the monthly PP, the Australian Dollar fell considerably on Thursday. This has sent technical indicators at or near the oversold territory. The 1D chart still shows some slight downside potential, while the pair is strongly oversold on the 1H time-frame.
It seems that the Aussie could still edge lower until the monthly S2 at 0.9570 before making a U-turn and heading towards the 200-hour and 55-period (4H) SMAs circa 0.9750.