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The combined forces of better than expected Canadian economic data and rising energy prices has propelled the Loonie throughout October.
AUD/USD rates remain in a symmetrical triangle, while AUD/JPY rates have started to trade higher through resistance.
Oil prices are surging to fresh yearly highs, and now that Canadian federal elections are in the rearview mirror, the Loonie is able to follow.
While USD/CAD rates have been carving out a potential inverse head and shoulders pattern, CAD/JPY rates appear to be working on a head and shoulders pattern themselves.
Both AUD/JPY and AUD/USD have traded sideways to lower in recent weeks. Are the sideways consolidations topping patterns or flags?