AUD/CAD 4H Chart: Moving towards resistance cluster - Trade Pattern Ideas - Dukascopy Bank
Thu, 15 Nov 2018 07:34:17 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Buy
Sell
RSI (14)
Sell
Sell
Neutral
Stochastic (5; 3)
Neutral
Neutral
Sell
Alligator (13; 8; 5)
Buy
Buy
Sell
SAR (0.02; 0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇘
The Australian Dollar has increased its trading range significantly against the Canadian Dollar. The bullish sentiment began after the pair reversed from a low level of 0.9100 on October 10.
The exchange rate breached a resistance level formed by the weekly R1 at 0.9609 during the morning hours of today's session.
It is expected that the AUD/CAD currency pair continues its bullish momentum today and could target the upper boundary of an ascending channel at 0.9675 within this session.
If the resistance line formed by the upper boundary of the ascending channel holds, the currency exchange rate will make a brief retracement down towards the 0.9550 mark.
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