USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the asset is re-testing the descending channel’s downside border. At the moment, despite a stable descending tendency, USDCAD is expected to rebound from the support area and form a slight correction. Later, the pair may resume trading downwards to update the lows again. In this case, the downside target is at 1.3050.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the uptrend continues. Right now, the pair is testing the rising channel’s upside border. Most likely, AUDUSD may correct before resuming its growth. In this case, the target may be the support area at 0.7230. Later, the price may rebound from the area and resume growing towards the rising channel’s upside border. At the same time, there is an opposite scenario, which implies a further growth to reach 0.7330 without any corrections.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the downtrend continues. After forming several reversal patterns, including Harami, not far from the descending channel’s upside border, USDCHF may reverse and then correct to reach 0.9015. Still, there might be an alternative scenario, according to which the asset may grow towards 0.9110 before resuming the downtrend.
