Long-term and short-term analysis of the Australian dollar's performance against the US dollar.
USD/CAD: there're bearish patterns
Information is not investment advice
There're bearish patterns such a 'High Wave' and a 'Harami', which both have been confirmed. So, it's likely that the market is going to test the 55 Moving Average (1.3346) soon. The subsequent pullback from this line could be a starting point for another advance in the direction of the next resistance at 1.3561. Any bearish pattern near this level will signal that a downward correction is about to start.
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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