HomeContributorsTechnical AnalysisAUD/CAD 4H Chart: Continue Bullish

AUD/CAD 4H Chart: Continue Bullish

The Bull has taken over the AUD/CAD pair since December 2017. Since it touched the monthly pivot point support at 0.9599, the pair has been trading in a channel up and reached a new high level.

A new junior channel has been mapped, and the pair has tested the daily dominant channel’s upper trend line. Overall, the AUD/CAD pair is likely to breach the weekly pivot point’s resistance level at 1.0040.

In regards to the future trading, the pair is likely to continue bullish until it breaches the weekly PP, and afterwards there might be a temporary retracement to the south.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading