Long-term and short-term analysis of the Australian dollar's performance against the US dollar.
USD/CAD: 'Evening Star' led to decline
Information is not investment advice
The price has been declining since the last 'Evening Star' pattern formed. However, the market faced support by the 55 Moving Average and the 'Window', so there're bullish patterns such a 'Hammer' and a 'High Wave', which both haven't been confirmed yet. So, it's likely that the pair is going to test the nearest support at 1.3249 once again. If a pullback from this level happens next, bulls will probably try to reach the previously achieved resistance at 1.3466.
A local flirting with the resistance or a serious intention to break through? We will examine the price action of GBP against CHF on high timeframes to answer this question.
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