Technical analysis of NZD/CHF
AUD/USD broke major support level 0.7500
- AUD/USD broke major support level 0.7500
- Next sell target - 0.7400
AUD/USD recently broke the major support level 0.7500 ( which stopped the sharp downtrend in December and which reversed the price at end start of April, as can be seen from the daily AUD/USD chart below). The breakout of this support level should strengthen the bearish pressure on this currency pair. AUD/USD is expected to fall toward the next sell target at next support level 0.7400.
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.