AUDUSD has been trending higher, thanks to the pickup in risk appetite. Price stalled upon hitting resistance near .7600 and is showing signs of a pullback, possibly to the rising trend line visible on the 4-hour chart.
AUDUSD recently broke below a rising trend line support visible on the 4-hour time frame, indicating that a downtrend is starting. Price found support at the .6825 area and is showing signs of a correction.
AUDUSD has been moving in a steady uptrend, trading above an ascending trend line connecting the latest lows of price action. Price recently made a swing high near the .7350 minor psychological level before showing signs of a pullback.
AUDUSD has been trending lower on its 1-hour forex chart, moving inside a descending channel connecting the highs and lows of price action since last month. Price is currently testing the resistance at the .7100 major psychological level and might be due for a move back to the bottom.
USDCHF has been trending lower on its 1-hour chart, moving inside a descending channel and testing support. Price has formed a bearish flag right at the bottom of the channel around the .9600 major psychological support and might be due for a break lower.
USDJPY has been making higher lows and lower highs, creating a symmetrical triangle on its 1-hour time frame. Price just bounced off the triangle resistance and is currently testing support, still awaiting a bounce or a breakdown.
EURGBP is still moving sideways on its 1-hour forex chart, bouncing off support at the .7260 area and finding resistance at .7360. Price is on its way up to test the top of the range once more while stochastic is moving down from the overbought zone, suggesting that the resistance might hold.
AUDUSD could be in for a long-term reversal from the recent downtrend, as an inverse head and shoulders pattern can be seen on its 4-hour time frame. Price is on its way to test the neckline around the .7400 major psychological mark and the 200 SMA.
EURUSD just broke out of its short-term consolidation pattern, signaling that further gains are possible for the pair. Recall that price had traded inside a symmetrical triangle pattern before breaking to the upside past the 1.1300 major psychological resistance.
USDCAD is showing signs of a pullback on its 1-hour time frame, as the pair bounced off the 1.2200 major psychological support area. Price is now testing resistance at the 38.2% Fibonacci retracement level, which lines up with the short-term 100 SMA.
