| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Neutral | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The AUD/CAD exchange rate has been extending gains since the end of May after it reserved north from the lower boundary of the long-term ascending channel at 0.9217.
Currently, the rate is testing the resistance level formed by the Fibonacci 23.60% retracement at the 0.9385 mark. Given, that the currency pair is supported by the 200-hour SMA at 0.9346, it is likely, that bulls could prevail in the market. A possible upside target is the upper channel line located in the 0.9500/0.9550 range.
However, if the given resistance holds, it is expected, that the pair could reverse south and re-test the lower channel line. If the given channel does not hold, the rate could decline to the Fibonacci 0.00% retracement at 0.9119.