Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
AUD/USD: bears are resuming the trend
Recommendation:
SELL 0.7515
SL 0.7570
TP1 0.7460
TP2 0.743 TP3 0.7415
On the daily chart, after reaching 88.6% target of the “Shark”, it’s transforming into 5-0. A pullback from 23.6% of the wave CD allowed to form short positions. To resume the downtrend, bears need to bring the pair to support at 0.7445 and 0.7410.
On H1 of AUD/USD, sellers are testing the lower border of the uptrend channel. If they succeed, the pair will trigger the “Bat” pattern with a target at 88.6%.
Ivan Karamazov
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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.
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It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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