AUD/CAD 1H Chart: Short-term advance expected - Trade Pattern Ideas - Dukascopy Bank

Mon, 01 Jun 2020 10:47:52 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The Australian Dollar continued to appreciate against the Canadian Dollar. The AUD/CAD currency pair has already exceeded 0.9200.  

It is likely that the exchange rate could gain support from the 55-, 100– and 200-hour moving averages near 0.9160. Thus, some upside potential could continue to prevail in the market. 

Note that the currency pair would have to surpass the Fibos 50.00% and 61.80% in the 0.9289/0.9515 range. If the given resistance holds, it is likely that a reversal south could occur, and the pair could decline to the Fibo 23.60% at 0.8785.


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