AUSTRALIAN DOLLAR / CANADIAN DOLLARAUDCAD
Online chart rate Australian Dollar Canadian Dollar*
Perhaps of all the majors, AUDCAD is of interest only to professional position traders. The main reason for this unpopularity is a lack of awareness about the volatility of the Australian dollar.
If you open the online chart and view the volatility fluctuations, you can notice certain stability in the Australian’s Forex quotes. This allows using classic strategies, that are based on popular indicators. You can also use the chart to find the correlation between the Australian dollar and the Canadian dollar with other currency pairs.
WHAT IS YOUR FORECAST FOR AUDCAD
More recently, most traders holding long positions on the Australian, mostly on daily or weekly timeframes. But over the past few years, the situation has changed dramatically — AUDCAD has indicated a clear «bearish» trend.
Changes can be tracked using the indicator widget on our website by switching to the weekly timeframe. If the arrow shows extreme activity for the instrument, this indicates a stable trend. And if the arrow is located in the neutral zone, we recommend waiting out the unstable state of the market.
The indicator widget is designed to confirm the signals of the main strategy, and it is risky to use it as the main entry signal.
The Australian economy depends not only on resource prices, but economic indicators also have a huge impact on the value of the national currency. In most cases, such fluctuations in quotes can be predicted if you check the calendar of economic news. For comfortable work with the Australian dollar, it is recommended to track news on Canada and Australia.