USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after forming an Inverted Hammer reversal pattern close to the support level, USDCAD is reversing and may form a new correctional impulse. In this case, the upside correctional target may be at 1.2575. However, an alternative scenario implies that the asset may fall to break the support level at 1.2465 and continue the downtrend without any corrections.
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, during the pullback, AUDUSD has formed a Harami reversal pattern near the support area. At the moment, the asset is reversing and starting a new rising impulse. In this case, the upside target may be the resistance level at 0.7605. After testing the level, the price may break it and continue the ascending impulse. At the same time, an opposite scenario implies that the price may correct to reach 0.7500 before resuming the uptrend.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after testing the support area, the pair has formed a Hammer pattern. At the moment, USDCHF is reversing in the form of a new ascending impulse. In this case, the upside target may be at 0.9305. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.9225 and continue the descending tendency without any corrections towards the resistance level.
Source: Roboforex
