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.
NZD/USD is counting on AB=CD
TP1 0.6785 TP2 0.6815 TP3 0.691
On the daily chart, NZD/USD failed at the first test of the lower border of the 0.6710-0.685 consolidating range and the upper border of the downtrend channel. Never the less, bulls are still hoping to return the pair to the middle of the precious ledge and trigger “Shakeout-Fakeout” pattern.
On H1, to continue the rally NZD/USD has to trigger AB=CD pattern with a target at 200%. At the same time, the pair will keep forming the “Shark” pattern with a target at 88.6%.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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