USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/AUD remained in an uptrend
BUY 1.6155; TP 1.6250; SL 1.6130
EUR/AUD formed a “bullish engulfing pattern” on W1. Notice that this happened at the support line from the 2017 lows. This means that the uptrend is still in place and the pair has a decent chance to go for higher levels, at least May highs in the 1.6250 area. Still, to be safe we would consider entering bullish positions if the pair rises above 1.6150 (50-day MA). The outlook will remain positive until EUR/AUD trades above 0.6035 (weekly pivot).
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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