USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
AUD/USD: uncertainties around the AUD
BUY 0.716 SL 0.7105 TP1 0.726 TP2 0.7325 TP3 0.7415
SELL 0.704 SL 0.7095 TP1 0.6975 TP2 0.6875 TP3 0.683
On the daily chart of AUD/USD, bulls and bears are fighting for the 78.6% level of the long-term upward wave. If bulls succeed, odds that the pair will break above the upper boundary of the downward channel and reach targets of the “Shark” pattern will increase. Vice versa, if bears are stronger, the pair will move down.
On H1, there is a consolidation of 0.704-0.716 within the “Broadening wedge” pattern. A break of its upper boundary will increase odds of “Shark” and “Wolfe waves” patterns’ implementation.
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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