USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
AUD/USD: bulls are acting
TP1 0.7505 TP2 0.754 TP3 0.764
On the daily chart of AUD/USD, bulls still hope to implement the “Wolfe waves” pattern. To succeed, they need to pull the pair out of the downward channel, break the correctional high near 0.7485 and implement the “Bat” pattern with the 88.6% target.
On H1, the “Broadening wedge” pattern keeps forming. The break of the resistance at 0.744 will implement the “Shark” pattern with the 113% target. After that, there are risks of the pullback within the 5-0 transformation.
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...