DAILY TECHNICAL ANALYSIS 13/12/2022

AUDCAD

AUDCAD has a valid trendline since the beginning of the month, price manage to form a double top formation and hit the first target at 0.91906 which is a support level this incident also gives more validity to this level.

Now the price is at a very important level, traders should be careful because if the price manages to break this strong level, we may see the price fall around the 0.91255 level.

If the price does not break this level and this recent decline was just a correction of the overall trend, we may see the price accelerate to the 161.8 fibo level.

GBPUSD

GBPUSD for has a valid uptrend since 9 of november, now  price starts to loose momentum,

With this scenario we may see the price drop until 1.15873.

If the price fail to break below that level we may see the price going further up.

USDJPY

USDJPY is trading in ranges, ranging between 142.199 and 131.140.

Now the price is retesting the intermediate level which is 137.779.

With this kind of behavior we may see the price drop back down to around 131.140.

If the price breaks above the mid-level, we may see the price rise further up to the 142.199 level.