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I took a long AUDUSD trade today, thinking that the pair could rebound after yesterday's strong move. I also saw this short USDCAD setup on the daily chart but I didn't want to take a trade that's sort of correlated to my other one.Anyway, here's the setup. There seems to be a trend line connecting the highs of the price. But since the pair bopped above that falling resistance level a couple of times, I was doubtful whether it would hold again. It looks like it did though, and the bounce happened at the 61.8% Fibonacci level.

Price action was back to choppy mode again today so that could mean pairs are gearing up for some strong moves. The ADP non-farm employment change due later could serve as a catalyst... Hold on to your hats!