USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the descending tendency continues. By now, USDCAD has formed a Hammer pattern not far from the support level. At the moment, the price is reversing. Most likely, the pair may correct for a while and then resume falling towards 1.3688. At the same time, there might be another scenario, which implies that the instrument may grow to reach 1.3900 and then continue forming the descending channel.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after testing another resistance level and forming a Shooting Star pattern, AUDUSD is still reversing. The downside target may be the support level at 0.6600. In case of further growth, the upside target may be at 0.6714.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF has formed one more Hammer pattern. At the moment, the pair is reversing and may later correct to reach the target at 0.9710. After that, the instrument may resume falling towards the next support level at 0.9600.
