USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
NZD/USD: a downtrend may resume
TP1 0.6480 TP2 0.6400 TP3 0.6370
On the daily chart, NZD/USD reached 224% target of junior AB=CD and bulls are trying to counterattack. Their goal is to push the pair above 0.6710 and return the pair inside the previous consolidation range of 0.6710-0.6850.
On H1, NZD/USD triggered a “Crab” pattern with a target at 88.6%. The odds of advance to it are lower than of a return to support at 0.6580. A decline below it will make the resumption of the downtrend more likely.
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.
There has been some movement in the EUR/USD chart. What's happening?
The US-China relations are getting more tensed over Hong-Kong. How does that affect the USD?