AUD/CAD 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9)
Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Sell Sell
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

If looking at AUD/CAD's movement during the past two weeks, it is apparent that the rate has entered a consolidation period with diminishing trading range. This has resulted in the formation of a symmetrical triangle. 

The Aussie was testing the upper channel boundary prior to plunging down to its bottom line during the first hour of this session. As the rate was not trading in a distinctive up– or down-move before forming this pattern, it is yet unknown to which direction the breakout is to take place. However, it is more likely to happen southwards during the upcoming hours. 

The nearest support is set by the 23.6% Fibonacci retracement at 0.9750, while the following one is the relatively distant weekly S1 at 0.97. Resistance, on the other hand, is formed by all three SMAs and the monthly PP in the 0.9780/0.9800 territory.

Actual Topics

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.