On the daily chart, NZD/USD reached 88.6% target of the “Bat”. This increases the possibility of a pullback to 23.6%, 38.2% and 50% of the wave CD.
AUD/USD: the Bears can’t maintain downtrend
Technical levels: support – 0.7550; resistance – 0.7590
- Buy — 0.7580; SL — 0.7560; TP1 — 0.7630; TP2 — 0.7690.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen; but the prices returned into the channel of Tenkan-Kijun.
On the daily chart of AUD/USD, there is a consolidation within the bearish trend.
Bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the market breaking down the main daily supports and will continue the downtrend.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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