| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Buy | 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 July, when the AUD/CAD currency pair reversed south from the upper boundary of the falling wedge pattern.
Currently, the pair is trading near the lower wedge line located 0.9050. From a theoretical point of view, the exchange rate should reverse north from the lower pattern line within the following trading sessions. If the pattern holds, a general direction would remain south.
However, note, that the pair is pressured by 55-, 100– and 200-hour SMAs, thus, if the given wedge does not hold, a breakout south could occur in the nearest future. A possible upside target is the monthly S2 at 0.8943.