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HomeForex EducationChart Artwork: USD/CAD And GBP/AUD’s Resistance Ranges

Chart Artwork: USD/CAD And GBP/AUD’s Resistance Ranges

Can’t get sufficient of commodity-related currencies?

I bought your again with USD/CAD’s multi-week resistance and GBP/AUD’s swing downtrend.

Verify them out!

USD/CAD 4-hour Forex Chart

USD/CAD 4-hour Foreign exchange Chart

USD/CAD is as soon as once more knocking on the 1.3200 psychological deal with!

As you may see, the world has prevented bulls from making new 2022 highs not less than thrice within the final couple of weeks.

Is 4th time the attraction for USD bulls?

Stochastic is at present on the bears’ facet with an overbought sign.

Maintain a watch out for draw back motion that might take USD/CAD again right down to its 1.3070 and 1.2970 earlier areas of curiosity.

In the event you see USD/CAD busting above the 1.3200 mark, although, then you definitely gotta be able to commerce attainable journeys to the 1.3350 or 1.3400 inflection factors.

GBP/AUD 4-hour Forex Chart

GBP/AUD 4-hour Foreign exchange Chart

Right here’s one for the pattern playas on the market!

GBP/AUD simply turned decrease from the 1.7200 psychological deal with that lined up with the 4-hour chart’s 200 SMA in addition to a trend line resistance that hasn’t been damaged since July.

GBP bears can make the most of the present bearish momentum which will properly drag GBP/AUD right down to the 1.7000 inflection level.

GBP/AUD might even attain new lows beneath 1.6900 if the bulls don’t step in earlier than the month ends!

I’m not discounting an upside breakout although.

A transparent break above the 200 SMA and pattern line resistance that we’re watching can push GBP/AUD to areas of curiosity like 1.7400 or 1.7550.

Watch this one intently, errbody!

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