| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The Australian Dollar has been depreciating against the Canadian Dollar since the beginning of January. This movement has been bounded within the descending channel (4H time-frame chart).
If the given channel holds, it is likely that the Australian Dollar could continue to decline against the Canadian Dollar in the medium term.
On the other hand, note that the AUD/CAD exchange rate is pressured by the 55-, 100– and 200-hour SMAs. Thus, a breakout south could occur in the nearest future. Important level to look out for is the monthly S3 at 0.8842.