AUD/CAD 4H Chart: Surge in sight - Trade Pattern Ideas - Dukascopy Bank

Tue, 16 Oct 2018 06:35:26 GMT
Source: Dukascopy Bank SA
 

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

A long-term descending channel has guided the AUD/CAD pair for the last four months. The given downside momentum has allowed the Australian Dollar to reach a new low level at 0.9105.

However, the currency pair bounced off its historically low level a few days ago, and presently trading above the 50-hour simple moving average at 0.9272.

Everything being equal, it is likely that the exchange rate continues its bullish momentum within this session. The potential target for the Aussie could be the next swing high at 0.9476 during the following trading sessions.

Although, it is important to note that a resistance cluster formed by the 200-hour SMA and the weekly R1 at 0.9333 could hinder the rate from hitting the target.


Back to feed
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX 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.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.