USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
AUD/USD: aussie under daily’s resistance
Technical levels: support – 0.7180; resistance – 0.7270.
- Sell — 0.7260; SL — 0.7280; TP1 — 0.7200; TP2 — 0.7180.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising Kijun-sen; the market is overbought and the prices reached the main resistance levels on the daily timeframe.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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