The US dollar is currently in a correction, but is likely to continue the trend down.
AUD/USD: 'V-Bottom' pushing price higher
Information is not investment advice
There's a 'V-Top' pattern, so the pair is declining. Meanwhile, we've got a 'V-Bottom', which has been formed right under the Moving Averages. Previously, we had a 'Head & Shoulders' pattern, so it's likely that the market is going to achieve the previously tested resistance at 0.7163. If a pullback from this level happens next, bears will probably try to deliver a downward correction in the direction of the Moving Averages.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
AUD/USD tried to recover this week, but its advance was stopped by the 100-day MA at 0.6830.
GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.
EUR/NZD has been descending since the middle of October when it recoiled down from the resistance line connecting 2015 and 2018 highs.