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Can’t get enough of commodity-related currencies?

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

Check them out!

USD/CAD: 4-hour

USD/CAD 4-hour Forex Chart

USD/CAD 4-hour Forex Chart

USD/CAD is once again knocking on the 1.3200 psychological handle!

As you can see, the area has prevented bulls from making new 2022 highs at least three times in the last couple of weeks.

Is 4th time the charm for USD bulls?

Stochastic is currently on the bears’ side with an overbought signal.

Keep an eye out for downside action that could take USD/CAD back down to its 1.3070 and 1.2970 previous areas of interest.

If you see USD/CAD busting above the 1.3200 mark, though, then you gotta be ready to trade possible trips to the 1.3350 or 1.3400 inflection points.

GBP/AUD: 4-hour

GBP/AUD 4-hour Forex Chart

GBP/AUD 4-hour Forex Chart

Here’s one for the trend playas out there!

GBP/AUD just turned lower from the 1.7200 psychological handle that lined up with the 4-hour chart’s 200 SMA as well as a trend line resistance that hasn’t been broken since July.

GBP bears can take advantage of the current bearish momentum that may well drag GBP/AUD down to the 1.7000 inflection point.

GBP/AUD may even reach new lows below 1.6900 if the bulls don’t step in before the month ends!

I’m not discounting an upside breakout though.

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

Watch this one closely, errbody!