AUD/CAD 1H Chart: Channel Up

At the moment the currency pair is in the upper part of the corridor near the bullish resistance line at 0.9945, meaning the risks are currently skewed to the downside. However, the dip should be halted by the lower boundary of the channel at 0.9854. Just beneath this support is the 200-hour SMA that reinforces the bullish outlook, although the shares of long (53%) and short (47%) positions are divided evenly.