AUD/CAD 4H Chart: Tests 0.9022 area - Trade Pattern Ideas - Dukascopy Bank
Thu, 05 Dec 2019 07:00:03 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Neutral
Buy
Sell
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇒
During the first part of this week's trading sessions, the Australian Dollar appreciated about 1.57% in value against the Canadian Dollar. However, the currency pair reversed south from the 0.9120 area on December 3.
Currently, the AUD/CAD exchange rate is testing the lower boundary of an ascending channel pattern at 0.9016.
If the channel pattern holds, a surge towards the psychological level at 0.9250 could be expected in the nearest future.
Although, it seems likely that the currency exchange rate will break the ascending channel pattern before the end of this week's trading sessions.
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