The antipodean central banks are seemed to do pretty well with the weak currency. Aren’t they?
NZD/CAD approaching support level 0.9270
- NZD/CAD approaching support level 0.9270
- Next sell target - 0.9220
NZD/CAD continues to fall inside the minor corrective wave 2 – which started earlier from the resistance zone lying between the resistance level 0.9450, upper daily Bollinger Band and the 50% Fibonacci correction level of the previous sharp downward ABC correction (2) from the start of February.
The price is currently approaching the support level 0.9270 (low of the aforementioned ABC correction (2)). If the price breaks below this support level - NZD/CAD can then fall to the next sell target at the support level 0.9220 (which stopped the previous long-term ABC correction ② in January).
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...