AUD/CAD 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
We hold a bullish outlook on AUD/CAD. The main reason is that the currency pair has formed a high-quality ascending channel, but the market is also net short—62% of traders are bears. The Australian Dollar is expected to rebound from the support trend-line at 0.9860 and extend the ensuing rally up to 1.01. Further advancement in under question because of strong resistance at 1.01, represented by the upper boundary of the pattern and January high. However, the technical indicators are mixed. In case 0.9860 is breached, the bears could push the price back to the Dec 9 low at 0.9754, while additional demand is supposed to be at 0.9620, implied by the 200-period SMA.
© Dukascopy Bank SA
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Thu, 17 Dec 2015 07:24:19 GMT

AUD/NZD 4H Chart: Channel Down

It is more likely than not that the Aussie is going to keep losing ground against its New Zealand counterpart. In addition to the pair trading within the downward-sloping channel, most of the technical indicators are pointing south. At the same time, we see that the Australian Dollar is heavily overbought—73% of open positions are long. The immediate ceiling is

Wed, 16 Dec 2015 14:27:06 GMT

GBP/AUD 4H Chart: Channel Down

While in the one-hour chart the Pound seems to be moving upwards versus the Aussie, the long-term outlook is fairly bearish in the four-chart for the same cross. Just before weekend, GBP/AUD managed to touch a resistance represented by 200-period SMA at 2.11, which is currently backed by the monthly PP. Following that, we saw a bounce back into the

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