AUD/CAD has formed a Channel Down pattern on the 1H chart. The pattern has 65% quality and 66% magnitude in the 125-bar period. The pattern began on 1st of February when the pair dipped to 1.0345; currently it is trading at the 20-bar SMA/pattern’s resistance at 1.0346. Trading volume seems to be at the same level in the length of the pattern. Technical indicators on aggregate point at appreciation of the pair on 4H horizon suggesting that pair has the propensity to breach pattern’s
