USDCAD Analysis.
USDCAD traded in range between 1.0410 and 1.0727 (Aug 12 high). Further rise to test 1.0727 previous high resistance is still possible in a couple of days. As long as 1.0727 level holds, we’d expect lengthier consolidation and one more fall below 1.0410 previous low is still possible. However, a break out above 1.0727 previous high will indicate that a long term bullish movement is underway, and long term target would be at 1.1800 zone.

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AUDUSD Analysis.
AUDUSD is forming a sideways consolidation in a range between 0.8493 and 0.8812. Rebound to test 0.8812 previous high resistance is possible in a couple of days. As long as this level holds, we’d expect down trend to resume and deeper decline could be seen to 0.8400 zone. However, above 0.8812 will indicate that the down trend from 0.9849 (July 15 high) has completed and further rebound towards 0.9000 level could be seen to follow.

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