USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
AUD/USD: bears are playing games
SELL 0.7475 SL 0.753 TP1 0.7375 TP2 0.736 TP3 0.7255
SELL 0.7515 SL 0.757 TP1 0.7415 TP2 0.736 TP3 TP3 0.7255
On the daily chart, AUD/USD is forming 5-0 and AB=CD patterns. After reaching an interim target at 127.2% of the latter, there was a natural pullback. Bears keep hoping to reach 161.8% target.
On H1, AUD/USD finished a “Widening wedge” as it formed the point 5. Pullbacks towards 23.6%, 38.2% and 50% of the wave 4-5 are usually used for selling.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...