UnknownUnicorn890690

AUD/CAD 1H Chart: Channel Down

FX:AUDCAD   Dolar Australia/Dolar Kanada
AUD/CAD 1H Chart: Channel Down

  • The Australian Dollar is losing value against the Canadian Dollar in a short-term descending channel that staretd to form after a 39-pip depreciation of the Aussie last week.

  • At the moment, the currency exchange rate is squeezed between the weekly S1 at 0.9941 and the monthly PP at 0.9930.

  • Nevertheless it is expected to resume the fall, as the breakout to the northern side most probably will be neturalized by the 55-, 100- and 200-hour SMAs.

  • The souther side, in turn, lacks any barriers up until the weekly S2, which is located at the 0.9901 level.
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