AUD/CAD 1D Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
As AUD/CAD proved to be unable to push through the parity in October, the currency pair started to trade in a down-trend instead, and it becomes more and more apparent with each new candlestick. And even though the bearish pattern consists of only 100 bars, thereby notably decreasing its quality, both falling lines have already been respected by the market on several occasions, meaning the long-term technical indicators are likely to turn out to be correct in giving ‘sell' signals.
In the meantime, SWFX market participants are not fully convinced that the price is going to fall—at the moment 58% of them expect the Australian Dollar to outperform its Canadian counterpart.
© Dukascopy Bank SA
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