USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
AUD/USD: let's buy the AUD
TP1 0.724 TP2 0.727 TP3 0.734
On the daily chart of AUD/USD, bulls have been trying to implement the “Shark” pattern and pull the pair to its 88.6% target. At first, they need to break the resistance at 0.7107 (78.6% from the long-term upward wave) and pull the pair out of the downward channel.
On H1, there is the “Three Indians” reversal pattern. If the pair breaks the resistance at 0.715, the “Shark” pattern will be implemented. Its 88.6% and 113% targets are at 0.727 and 0.734 respectively.
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.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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