USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/NZD: the opportunity is still here
SELL 1.7055; TP 1.6990; SL 1.7070
When looking for pairs to trade to benefit from today’s meeting of the European Central Bank, pay attention to EUR/NZD. We already drew your attention to this pair last week, and the idea still looks good. Moreover, the pair has actually confirmed a “double top” on the D1 as it tried to retest the neckline and got rejected to the downside. Now it’s possible to join sellers on the break below 1.7060 (50% Fibo of the July-August advance, 100-day MA) targeting 1.6985 (100-week MA).
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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