The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
NZD/USD: kiwi wants out of its cage
BUY 0.7275 SL 0.7220 TP1 0.7375 TP2 0.7395 TP3 0.7475
SELL 0.7170 SL 0.7225 TP1 0.7075 TP2 0.6965 TP3 0.6780
On the daily chart of NZD/USD, the fourth attempt of bears to conquer support at 0.7185 was a failure. As a result, bulls got a chance to counterattack. The first thing for that is to get the pair out of the downtrend channel.
On H1, NZD/USD formed a “Widening wedge”. A break of resistance at 0.7270-0.7275 will open the pair way to the upside. On the other hand, to continue the declines bears need to pull the pair below 0.7170.
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...