Technical analysis of NZD/CHF
GBP/AUD broke powerful resistance level 1.7650
- GBP/AUD broke powerful resistance level 1.7650
- Next buy target - 1.7800
GBP/AUD continues to rise inside the minor impulse wave 3, which today broke through the powerful, multi-month resistance level 1.7650 (which stopped the previous intermediate impulse wave (1) in May, as can be seen from the daily GBP/AUD chart below). GBP/AUD is expected to rise further in the active impulse waves 3 and (3) toward the next buy target at the next resistance level 1.7800.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.