USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
NZD/USD can get even higher
TP1 0.6825 TP2 0.69 TP3 0.7055
On the daily chart, bulls managed to lead NZD/USD outside of the downtrend channel. They are ready to trigger the “Shark” with 88.6% and 113% targets. To do that, they need to conquer resistance at 0.6710 and return the pair inside the previous consolidation range of 0.6710-0.6850.
On H1, NZD/USD reversed up helped by the “Three Indians” pattern. To confirm their success, bulls need to trigger and form the “Widening wedge”.
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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