Currency State of Play — Major Pairs Follow-UpUnited States Dollar / Canadian DollarCMCMARKETS:USDCADCharts247TradingAcademy📐 Method: Last Posted High / Last Posted Low | Timeframe: 15M This is a follow-up to yesterday's analysis on the major pairs. If you missed it, the link is attached to this post. The price action has developed nicely; here is where things stand now. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 💵 THE DOLLAR NARRATIVE ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ USD strength has continued to assert itself across the board. The dollar is pushing higher against its major counterparts and the structure is confirming that bias with clear, decisive price action. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🔴 EURUSD ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Price has broken below the key low identified in yesterday's analysis. The bullish case is now invalidated at this structure. Bears are in control. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🔴 AUDUSD ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Breakdown confirmed below the posted low. The anticipated long setup above 0.7149 did not materialise, price opted for the downside instead. Structure is now bearish. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🔴 GBPUSD ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Despite the well-defined bullish wave structure noted yesterday, Cable has broken below the low. The structural pullback extended further than anticipated and sellers have taken control of the narrative for now. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🟢 USDCAD ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Exactly as expected. USDCAD has continued higher, consistent with the strong bullish state and last posted low at 1.3951 flagged in yesterday's update. Dollar strength playing out cleanly here. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🟡 USDJPY ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ The structural pullback we were watching for has now arrived. This is a healthy development within the broader bullish trend. The key question now is whether this pullback offers a valid re-entry opportunity or signals a deeper correction. Watching price behaviour closely at structure. There is a Bear Caution Signal on the UJ, we may need to see a bullish structural break as a green light. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 📌 Key Takeaways ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ • USD strength remains the dominant theme across major pairs • EUR, AUD and GBP all failed to hold their lows, bearish follow-through confirmed • USDCAD continues to reward the trend-following approach • USDJPY pullback was anticipated, now we have a level to watch for continuation • Yesterday's analysis has played out nicely; structure does not lie Not financial advice. Always apply your own analysis and risk management. Thumbs UP if you like the analysis, follow for more price behaviour analysis and education posts.