Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
AUD/CAD falling inside wave (2)
- AUD/CAD falling inside wave (2)
- Next sell target - 0.8780
AUD/CAD recently reversed down sharply from the lower trendline of the recently broken daily Triangle (Acting as resistance after it was broken previously). The downward reversal from this Triangle created the daily Japanese candlesticks reversal pattern Shooting Star. AUD/CAD is expected to fall further toward the next sell target at the next support level 0.8780 (multi-month low from May and the target for completion of the active wave (2)).
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.