Technical analysis of NZD/CHF
AUD/USD falling inside minor impulse wave (c)
- AUD/USD falling inside minor impulse wave (c)
- Next sell target - 0.7500
AUD/USD continues to fall inside the minor impulse wave (c), which previously broke the key support level 0.7640 (which reversed the previous minor impulse wave (i) in last month) and the support trendline of the daily down channel from the middle of February. Having recently broken the daily down channel February - GBP/CAD is expected to fall toward the next sell target at the next support level 0.7500 (monthly low from December and the target price for the completion of the active wave 2).
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.