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.

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


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