USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
NZD/USD: bulls stabilize the trend
BUY 0.6895 SL 0.684 TP1 0.6995 TP2 0.705 TP3 0.7085
On the daily chart of NZD/USD, bears managed to take control over the situation and pull the pair towards the lower border of the upward channel due to the "Three Indians" pattern. The successful break of the diagonal support near 0.6855 will make the kiwi fall towards the 0.6690-0.67 levels.
On H1, the pair needs to test the resistance at 0.6895 to stabilize the upward trend. If bulls manage to do it, there will be a chance to reach the 161.8% and 261.8% targets of the junior and senior AB=CD patterns.
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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