| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Buy | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇘ | ⇗ | ⇘ |
The Australian Dollar has been trading in an ascending channel against the Loonie since mid-November. The upper boundary of this pattern and a long-term channel down near 0.9880 was reached five weeks later.
Since then, the Aussie's failure to move below the 0.9782 mark has resulted in the formation of a descending triangle. The pair had reached its upper boundary, likewise reinforced by the 200-hour SMA, on Tuesday morning.
From theoretical point of view, this triangle should be breached to the upside. A breakout in this session is also signaled by technical indicators. The subsequent surge is not expected to be long-lasting, as the upper boundary of the senior channel is located nearby circa 0.9860.
Taking all this into account, the base scenario favours a test of the senior channel and a reversal near this area.