Currency pair analysis: AUD/CAD

AUD/CAD

The overall trend is downward. The currency pair trades in the range of the upper border of the descending price channel and the moving averages (365 and 135 EMA). A bearish divergence has formed on the Awesome Oscillator, while the Stochastic Oscillator signals overbought conditions.

AUD/CAD rate online: monitor the price movement in real time.

Trading idea:

Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending pattern.

Stop Loss: above the local maximum.

Target levels: 0.9130; 0.9114.