AUD/CAD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The pair of currencies used in two different parts of the world, AUD/CAD, has been tilted upwards since the very beginning of the month and on Jul 21 the instrument embarked upon formation of the bullish tunnel that now is over 110-bar long.
AUD/CAD is likely to move in the northern direction before long as suggested by the SWFX numbers – about two thirds of market players are bullish on the pair. To confirm this, the currency couple will have to target the levels of 1.0158/67 (four-hour PP, R1; daily R1) and 1.0171/6 (four-hour R2, R3; daily R2, R3), a jump above which will push a one-month high of 1.0178 to the fore.
© Dukascopy Bank SA
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