AUD/CAD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Our outlook towards AUD/CAD is not as strong as towards AUD/CHF, but is nevertheless bearish. There is a descending channel emerging in the four-hour chart, and the pair should extend the sell-off from 0.9550, where it bounced off of the upper boundary of the pattern. The current target is the lower edge of the channel and at the same time the 2015 October low that coincide near 0.9250. In the meantime, a resistance trend-line at 0.9470 is considered to be a ceiling. As for the sentiment in the SWFX market, traders seem to be undecided with respect to the Aussie's prospects, being that 48% of open positions are long and 52% of them are short.
© Dukascopy Bank SA
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Fri, 13 May 2016 14:20:04 GMT

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Fri, 13 May 2016 06:54:18 GMT

AUD/CHF 1H Chart: Channel Down

AUD/CHF price chart is currently being shaped by the channel that is forming within the channel we covered yesterday. The pair is expected to slide down to 0.7050/40 within this pattern, while staying capped by the red trend-line currently at 0.71. The negative outlook is also reinforced by the indicators, which are mostly pointing south. Once the price reaches 0.7050/40,

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