USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the correction within the descending tendency continues. Right now, after re-testing the resistance area and forming several reversal patterns, such as Harami, USDCAD is expected to reverse and fall towards 1.3090. However, an alternative scenario implies that the price may return to the resistance area at 1.3250 before resuming the downtrend.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD continues the correction from the channel’s downside border. Right now, after forming several reversal patterns, such as Harami, the pair is expected to reverse and resume moving downwards. In this case, the downside target may be the support area at 0.7040. At the same time, an opposite scenario says that the price may grow to test the resistance area at 0.7190 before resuming its decline.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the correction within the downtrend continues. After forming several reversal patterns, such as Harami, not far from the resistance level, USDCHF is moving sideways. Possibly, the asset may resume falling. In this case, the downside target may be the support area at 0.9000. Still, there might be an alternative scenario, according to which the asset may continue growing and return to the resistance level at 0.9135 without reversing and correcting.
