USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the ascending tendency continues. Right now, after finishing a Hammer pattern, USDCAD is reversing and testing the resistance area. After a slight correction, the pair is expected to resume moving upwards with the target at 1.3410. However, an alternative scenario implies that the price may return to the support area at 1.3245 before resuming the uptrend.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD continues forming the descending channel. Right now, after forming several reversal patterns, such as Hammer, the pair is reversing and correcting. In this case, the downside target may be the support area at 0.6965. At the same time, an opposite scenario says that the price may grow to test the resistance area at 0.7110 before resuming its decline.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the asset continues forming the ascending impulse. After forming several reversal patterns, such as Harami, not far from the horizontal resistance level, USDCHF is expected to reverse and correct. In this case, the upside target may be the resistance area at 0.9225. Still, there might be an alternative scenario, according to which the asset may continue falling and return to the support level at 0.9085 before resuming its growth.
