AUD/CAD - 1H - Technical analysis published on 05/31/2024 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
78%
11%
My opinion
Bearish under 0.9068 CAD
My targets
0.8999 CAD (-0.0056)
0.8931 CAD (-0.0124)
My analysis
The bearish trend is currently very strong for AUD/CAD. As long as the price remains below the resistance at 0.9068 CAD, you could try to take advantage of the bearish rally. The first bearish objective is located at 0.8999 CAD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 0.8931 CAD as an objective. Crossing it would then enable sellers to target 0.8807 CAD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
8.2
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The AUD/CAD rating is 0.9055 CAD. The price registered a decrease of -0.19% on the session and was traded between 0.9053 CAD and 0.9094 CAD over the period. The price is currently at +0.02% from its lowest and -0.43% from its highest.0.9053
0.9094
0.9055
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this AUD/CAD chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.8807 | 0.8931 | 0.9047 | 0.9055 | 0.9061 | 0.9068 | 0.9080 |
| Change (%) | -2.74% | -1.37% | -0.09% | - | +0.07% | +0.14% | +0.28% |
| Change | -0.0248 | -0.0124 | -0.0008 | - | +0.0006 | +0.0013 | +0.0025 |
| Level | Intermediate | Intermediate | Major | - | Minor | Major | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.9009 | 0.9029 | 0.9051 | 0.9071 | 0.9093 | 0.9113 | 0.9135 |
| Camarilla | 0.9061 | 0.9064 | 0.9068 | 0.9072 | 0.9076 | 0.9080 | 0.9084 |
| Woodie | 0.9009 | 0.9030 | 0.9051 | 0.9072 | 0.9093 | 0.9114 | 0.9135 |
| Fibonacci | 0.9029 | 0.9045 | 0.9055 | 0.9071 | 0.9087 | 0.9097 | 0.9113 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.8950 | 0.8999 | 0.9028 | 0.9077 | 0.9106 | 0.9155 | 0.9184 |
| Camarilla | 0.9036 | 0.9043 | 0.9050 | 0.9057 | 0.9064 | 0.9071 | 0.9079 |
| Woodie | 0.8940 | 0.8994 | 0.9018 | 0.9072 | 0.9096 | 0.9150 | 0.9174 |
| Fibonacci | 0.8999 | 0.9029 | 0.9047 | 0.9077 | 0.9107 | 0.9125 | 0.9155 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.8575 | 0.8678 | 0.8800 | 0.8903 | 0.9025 | 0.9128 | 0.9250 |
| Camarilla | 0.8859 | 0.8880 | 0.8900 | 0.8921 | 0.8942 | 0.8962 | 0.8983 |
| Woodie | 0.8584 | 0.8683 | 0.8809 | 0.8908 | 0.9034 | 0.9133 | 0.9259 |
| Fibonacci | 0.8678 | 0.8764 | 0.8817 | 0.8903 | 0.8989 | 0.9042 | 0.9128 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 37.19 | |
| MACD (12,26,9): | -0.0004 | |
| Directional Movement: | -6.6108 | |
| AROON (14): | -21.4286 | |
| DEMA (21): | 0.9065 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.9088 | |
| Elder Ray (13): | -0.0010 | |
| Super Trend (3,10): | 0.9088 | |
| Zig ZAG (10): | 0.9055 | |
| VORTEX (21): | 0.9320 | |
| Stochastique (14,3,5): | 8.94 | |
| TEMA (21): | 0.9062 | |
| Williams %R (14): | -95.12 | |
| Chande Momentum Oscillator (20): | -0.0014 | |
| Repulse (5,40,3): | -0.1277 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0021 | |
| Courbe Coppock: | 0.17 |
| MA7: | 0.9066 | |
| MA20: | 0.9066 | |
| MA50: | 0.8966 | |
| MA100: | 0.8906 | |
| MAexp7: | 0.9063 | |
| MAexp20: | 0.9068 | |
| MAexp50: | 0.9071 | |
| MAexp100: | 0.9073 | |
| Price / MA7: | -0.12% | |
| Price / MA20: | -0.12% | |
| Price / MA50: | +0.99% | |
| Price / MA100: | +1.67% | |
| Price / MAexp7: | -0.09% | |
| Price / MAexp20: | -0.14% | |
| Price / MAexp50: | -0.18% | |
| Price / MAexp100: | -0.20% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on AUD/CAD. At the time of publication of this analysis, the latest news was as follows:
-
AUD/CAD Forecast May 23, 2024
-
AUD/CAD Forecast January 6, 2023
-
S&P 500 Volatility Should Settle if Risk Appetite is Set, AUDCAD a Top Watch
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Australian Dollar China GDP Analysis: AUD/USD, AUD/JPY, GBP/AUD, AUD/CAD
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Australian Dollar Analysis: AUD/USD, AUD/JPY, AUD/CAD Gain as RBA Holds in February
This member declared not having a position on this financial instrument or a related financial instrument.
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