2026-10-23 Readings lean bearish
AUD/CAD Faces Downward Pressure Amid Neutral Daily Structure
AUD/CAD is currently trading at 0.98256, showing a slight decline over the past 24 hours. The pair exhibits a mixed trend structure, with the 4-hour chart pointing up while the 1-hour chart indicates a downward trend. Traders should monitor upcoming Canadian retail sales data and RBA speeches for potential catalysts.
Trend and momentum
The technical picture for AUD/CAD is mixed, with a 4-hour uptrend contrasting with a 1-hour downtrend. Momentum indicators lean bearish, as the 1-hour RSI sits at 42.63 and the 4-hour RSI at 40.51. The 1-hour Bollinger Bands are squeezing with price inside, suggesting a potential breakout, while the 1-hour MACD shows a bullish cross. The pair has used 43% of its average daily range today.
Key levels
Key levels to watch include today's high at 0.98364 and low at 0.98141, which define the immediate intraday range. The previous day's high (0.98804) and low (0.98193) serve as near-term resistance and support, with a break below yesterday's low potentially accelerating downside momentum. Further out, last week's high (0.99692) and low (0.97908) mark significant structural boundaries, while the recent 4-hour range spans from 0.98880 to 0.98118.
News and events this week
This week's economic calendar features key events for both currencies. For the Canadian Dollar, Retail Sales data is scheduled for October 23, which could introduce volatility. On the Australian Dollar front, a speech by RBA's Jones is set for October 25, and Australian inflation data (CPI) is expected on October 28, which will be critical for assessing the RBA's policy outlook.
What would push it higher
If AUD/CAD can break above today's high and sustain momentum, it could target the previous day's high and shift the near-term bias.
What would push it lower
If the pair breaks below yesterday's low, it could trigger further selling pressure toward last week's low.
The engine has no open signal on this pair. Today's signals →