24 October 2025,03:17
Chart The Market
24 October 2025, 03:17
USDCAD, H4:
The USDCAD pair is exhibiting a significant technical deterioration, with its previously established uptrend now under severe threat. The sequence of higher highs and higher lows that defined the rally from the 1.3730 low has been invalidated, shifting the near-term bias to bearish.
The immediate focal point is the critical support level at the 1.3985 mark. This level now represents a line in the sand for the pair’s near-term direction. A decisive break below it would confirm the bearish structural break and likely trigger a deeper corrective move.
This pessimistic price action is compounded by a pronounced shift in momentum indicators. The Relative Strength Index (RSI) has declined below its mid-point, signaling a loss of bullish momentum, while the Moving Average Convergence Divergence (MACD) has crossed into negative territory below its zero line. This confluence of weakening price structure and bearish momentum alignment suggests the path of least resistance is to the downside. A failure to defend the 1.3985 support would open a path for a test towards the next significant support zone.
Resistance Levels: 1.4070, 1.4162
Support Levels: 1.3910, 1.3830
AUDUSD, H4
The AUDUSD pair is consolidating within a technically constructive pattern, establishing a series of higher lows that have formed a clear ascending triangle. This pattern typically suggests a buildup of bullish pressure and often precedes an upward breakout.
The immediate catalyst for a confirmed bullish move is a decisive break above the pattern’s immediate resistance line at the 0.6515 mark. A sustained move beyond this level would signal a resolution of the consolidation phase in favor of the bulls, likely triggering a new leg higher.
The momentum landscape presents a nuanced but ultimately promising picture. While the Relative Strength Index (RSI) is gradually ascending, it remains near its mid-point, reflecting a lack of overwhelming bullish strength for now. However, the Moving Average Convergence Divergence (MACD) is poised for a more significant shift, currently on the verge of a bullish crossover above its zero line. This indicates that the underlying bearish momentum is likely vanishing, providing crucial support for the bullish bias derived from the price pattern. The convergence of the ascending triangle and the potential MACD breakout creates a compelling setup for a potential upward move, contingent upon a successful breach of the 0.6515 resistance.
Resistance Levels: 0.6550, 0.6588
Support Levels: 0.6468, 0.6420
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