AUD/CAD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar has been rallying against its Canadian peer since the beginning of the year. The advance has been developing within a tunnel formed by two upward sloping lines that represent boundaries of the channel up pattern.
Recently, the pair, being a subject to buying pressure, touched almost a one-month high that provoked a retreat to the pattern's support, close to which the pair is vacillating at the moment. Market players believe the pair will rebound in the hours to come; 76% of all orders are placed to buy the pair.
© Dukascopy Bank SA
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