Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
AUD/NZD rising inside accelerated impulse wave (3)
- AUD/NZD rising inside accelerated impulse wave (3)
- Next buy target - 1.1050
AUD/NZD continues to rise inside the accelerated impulse wave (3), which previously broke through the resistance zone lying between the resistance level 1.0830 (top of wave 2 from February) and the resistance trendline of the daily down channel from October. The breakout of this resistance zone accelerated the active impulse wave (3). AUD/NZD is expected to rise further toward the next buy target at the next resistance level 1.1050.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend.