AUD/CAD 4H Chart: Could edge lower - Trade Pattern Ideas - Dukascopy Bank

Thu, 24 Oct 2019 05:49:52 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellBuySell
Aggregate

The Australian Dollar is gradually edging up against the Canadian Dollar in a junior ascending channel pattern. The currency pair appreciated about 1.27% in value during last week's trading sessions. However, the price was unable to surpass a significant resistance level at 0.9003.

By and large, the AUD/CAD exchange rate will most likely edge lower during the following trading sessions. A potential breakout through the bottom border of the junior ascending channel could occur.

Although, the decline might stop at a support level formed by the weekly S1 at 0.8922 in the nearest future.


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