| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Buy | Neutral | Neutral |
| Alligator (13; 8; 5) | Buy | Buy | Sell |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
The Australian Dollar accelerated against its Canadian counterpart early in May when the pair hit the bottom boundary of a two-year channel at the 0.9560 mark. The rate has since strengthened by 2.98%, thus reaching its peak at 0.9840 on Monday. This level likewise corresponds with the upper boundary of a four-week ascending channel.
It is likely that the pair respects the boundaries of this pattern and thus depreciates within the following week or two. This assumption is likewise supported by the fact that the Aussie faces a strong resistance area circa 0.99 formed by the 55-, 200– and 100–day SMAs and the 50.0% Fibonacci retracement line.
A possible near-term target is 97.00 where the bottom channel line, the weekly S1 and the 200-hour SMA are located. A confirmation of this bearish scenario should be provided by a successful breakout below the 100-hour SMA.