USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after forming a Doji reversal pattern close to the resistance level, USDCAD may reverse in the form of another descending impulse. In this case, the downside target may be at 1.2595. However, an alternative scenario implies that the asset may grow to rebound from the resistance level at 1.2750 and resume the descending tendency after the pullback.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has formed a Hammer reversal pattern near the support area. At the moment, the asset may reverse and start a new rising impulse. In this case, the upside target may be the resistance level at 0.7200. After testing the level, the price may break it and continue the ascending tendency. At the same time, the opposite scenario implies that the price may correct to reach 0.7040 first and then resume the uptrend.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after testing the resistance area, the pair has formed a Hammer reversal pattern. At the moment, USDCHF may reverse in the form of a new descending impulse. In this case, the downside target may be at 0.9730. After testing the support level, the price may rebound from it and resume trading upwards. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.9875 and continue the ascending tendency without any pullbacks.
Source: Roboforex
