USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
NZD/USD: bears won’t let the enemies closer
TP1 0.6825 TP2 0.6775 TP3 0.6710
On the daily chart, NZD/USD reached 161.8% target of AB=CD and then pulled back. As long as the pair is in the downtrend channel, bears keep the situation under control.
On H1, NZD/USD keeps forming a “Shark” pattern. Its 88.6% target corresponds to the previous consolidation area where shorts accumulate. When the pair gets to it, the risks of a pullback within the transformation of a “Shark” into 5-0 will increase.
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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