Technical analysis of NZD/CHF
AUD/CAD reversed from resistance area
- AUD/CAD reversed from resistance area
- Next sell target - 0.9770.
AUD/CAD continues to fall after the earlier downward reversal from the resistance area lying between the key resistance level 0.9900 (previous buy target), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from August. The downward reversal from this resistance area started the active impulse wave (iii). AUD/CAD is expected to fall to the next sell target at the next support level 0.9770.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.