USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after forming several reversal patterns, including Hammer, not far from the support level, USDCAD is reversing and grow towards the resistance area. In this case, the upside target is at 1.2670. After testing the resistance area, the price may resume its descending tendency. However, an alternative scenario implies a further downtrend to test the support level at 1.2500 without testing the resistance area.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, during the pullback, AUDUSD has formed several reversal patterns, such as Harami, not far from the resistance area. At the moment, the asset is still reversing. In this case, the downside target is the support area at 0.7520. At the same time, an opposite scenario implies that the price may correct towards the resistance level at 0.7700 before resuming its descending tendency.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the uptrend continues. At the moment, after forming a Shooting Star reversal pattern not far from the resistance area, USDCHF may reverse and correct downwards. In this case, the downside target is the support level at 0.9315. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.9435 without reversing and correcting.
