During the first part of this week’s trading sessions, the Australian Dollar appreciated about 1.57% in value against the Canadian Dollar. However, the currency pair reversed south from the 0.9120 area on December 3.

Currently, the AUD/CAD exchange rate is testing the lower boundary of an ascending channel pattern at 0.9016.

If the channel pattern holds, a surge towards the psychological level at 0.9250 could be expected in the nearest future.

- advertisement -

Although, it seems likely that the currency exchange rate will break the ascending channel pattern before the end of this week’s trading sessions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.