Double Top formation on AUDCAD - Risky, okay?Price made a strong rally on AUDCAD, climbing aggressively.
But now, we’re spotting a possible Double Top formation, two peaks at roughly the same level.
At first glance, this looks like a bearish setup.
But here’s the caution: in the context of such a powerful uptrend, a Double Top can be tricky.
About Australian Dollar/Canadian Dollar
The Australian Dollar vs. the Canadian Dollar. Both of these currencies are regarded as commodity currencies and are considered to be a relatively stable currency pair. The CAD fortunes are closely related to the U.S. because it is their largest trading partner and neighbor. The AUD is more effected by its alignment with Australia and emerging Asian markets.
Related currencies
AUDCAD - The next Big Short?AUDCAD is surging on a combination of Gold reaching new highs and Oil testing Quarterly lows affecting the AUD and CAD currencies respectively, each nations exports being closely tied to those commodities.
AUDCAD has been parabolically walking a bullish trend fan-line pattern with several attempts
AUDCAD longAustralian economy is in a better position than the Canadian economy. Nothing seems to be rolling for Canada.
On Monday, the BoC cut rate by 25 bps which was already priced in... no surprise there. We had some pretty dovish comments from Governor Tiff Macklem. He highlighted concerns over the sof
AUDCAD Technical & Order Flow AnalysisOur analysis is based on a multi-timeframe top-down approach and fundamental analysis.
Based on our assessment, the price is expected to return to the monthly level.
DISCLAIMER: This analysis may change at any time without notice and is solely intended to assist traders in making independent inve
Bullish set up AUDCADI'm leaning bullish towards this pair. On a technical level we can see an uptrend after an accumulation on the daily TF.
Looking closer on the 1H we can see higher lows and higher highs setting in. Rn price is entering a supply zone and I expect price to react to this or the next one above. I want
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The current rate of AUDCAD is 0.91452 CAD — it has increased by 0.34% in the past 24 hours. See more of AUDCAD rate dynamics on the detailed chart.
The value of the AUDCAD pair is quoted as 1 AUD per x CAD. For example, if the pair is trading at 1.50, it means it takes 1.5 CAD to buy 1 AUD.
The term volatility describes the risk related to the changes in an asset's value. AUDCAD has the volatility rating of 0.58%. Track all currencies' changes with our live Forex Heatmap and prepare for markets volatility.
The AUDCAD showed a −0.21% fall over the past week, the month change is a 2.07% rise, and over the last year it has decreased by −1.18%. Track live rate changes on the AUDCAD chart.
Learn how you can make money on rate changes in numerous trading ideas created by our community.
Learn how you can make money on rate changes in numerous trading ideas created by our community.
AUDCAD is a minor currency pair, i.e. a popular pair that is not associated with USD. Such pairs are also called cross currency pairs.
Currencies are usually traded through forex brokers — choose the one that suits your needs and go ahead. You can trade AUDCAD right from TradingView charts — just log in to you broker account. Check out the list of our integrated brokers and find the best one for your needs and strategy.
When deciding to buy or sell currency one should keep in mind many factors including current geopolitical situation, interest rates, and other. But before plunging into a deep research, you can start with AUDCAD technical analysis. The technical rating for the pair is buy today, but don't forget that markets can be very unstable, so don't stop here. According to our 1 week rating the AUDCAD shows the buy signal, and 1 month rating is buy. See more of AUDCAD technicals for a more comprehensive analysis.