USDCAD, "US Dollar vs Canadian Dollar"
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The pullback target might be 1.3440. Next, the price might rebound from the resistance and extend the downtrend. However, the quotes could drop to 1.3300 without testing the resistance.
AUDUSD, "Australian Dollar vs US Dollar"
AUDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the 0.6775 level. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could correct to 0.6670 before rising.
USDCHF, "US Dollar vs Swiss Franc"
USDCHF has formed a Harami reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 0.8535. Upon testing the resistance, the price might rebound from it and continue developing the downtrend. However, the price might drop to the 0.8425 level without testing the resistance.
Our analytics team will be back on 9 January 2024 with the latest overviews and forecasts. Happy Holidays!