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AUDNZD, H4:
AUD/NZD found strong support near the 1.1940 level, where the pair formed a double-bottom pattern, signaling that downside momentum may be fading. Following the formation of this bullish reversal pattern, the pair staged a technical rebound and has gained nearly 1% from its recent low.
Despite the recovery, AUD/NZD is now approaching a critical resistance zone around the 1.2000 mark, which coincides with the pair’s descending trendline resistance. This area is expected to attract selling pressure and may limit further upside in the near term.
While a rejection near the 1.2000 resistance level remains a likely scenario, a decisive breakout above this zone would represent a significant technical development. Such a move would confirm the double-bottom formation, invalidate the prevailing downtrend structure, and provide a strong bullish signal for the pair.
Overall, AUD/NZD is currently testing a key inflection point. A rejection at 1.2000 could see the pair resume its broader downtrend, while a successful breakout would increase the likelihood of a sustained bullish recovery.
Resistance Levels:1.2050, 1.2113
Support Levels: 1.2000, 1.1940

USDCAD, H4
The USD/CAD pair has staged a strong bullish rally, gaining more than 5% and reaching its highest level since last May. However, the strong upward move has been followed by a technical retracement, with the pair now approaching a key support zone near 1.3899, which coincides with the 50% Fibonacci Retracement level.
Given the importance of this technical level, a rebound is anticipated as buyers may attempt to regain control around 1.3899. A successful defense of this support would suggest that the recent pullback remains corrective in nature and that the broader bullish structure could remain intact.
However, a decisive break below 1.3899 would weaken the bullish outlook and could trigger a deeper correction. In such a scenario, the next bearish target would be the 1.3816 level, where further buying interest may emerge.
Overall, 1.3899 is the key level to watch. A technical rebound from this zone would support the continuation of the broader bullish trend, while a breakdown below it could open the door to further downside toward 1.3816.
Resistance Levels: 1.3982, 1.4085
Support Levels:1.3899, 1.3816
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