The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
NZD/USD: bears are preparing an attack
SELL 0.7280 SL 0.7335 TP 0.718
SELL 0.7185 SL 0.7240 TP 0.7080
On the daily chart of NZD/USD, the inability of bulls to return the pair inside the uptrend channel points at their weakness. Kiwi approached the lower border of the 0.7185-0.7430 consolidation range. In case of the successful test of the support, the risks of decline to 0.7080 will increase.
On H1, the fact that NZD/USD reached the interim target at 78.6% of the “Shark” pattern increases the odds of its transformation into 5-0. Pullbacks to 38.2% and 50% of the wave CD should be used for selling.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
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...