USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
NZD/CHF: bears remain active
SELL 0.6560; TP 0.6530; SL 0.6570
NZD/CHF formed a bearish candlestick with a long lower shadow on W1. On D1, there was a “bearish engulfing” pattern followed by a bearish candlestick. It means that as long as the pair is trading below 0.6565 (resistance level marking a top), downside risks prevail.
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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