USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
NZD/USD: the kiwi drew a pin bar
BUY 0.6785 SL 0.673 TP1 0.687 TP2 0.696 TP3 0.7045
SELL 0.672 SL 0.6775 TP1 0.662 TP2 0.652 TP3 0.65
On the daily chart of NZD/USD, bulls are trying to implement the pin bar, pull the pair to the upper boundary of the downward channel and the resistance at 0.6855. On the contrary, bears hope to break the support at 0.672, implement the AB=CD pattern again and reach its 261.8% target.
On H1, if the pair breaks the resistance at 0.6785, the “Shark” pattern with 88.6% and 113% targets will be implemented. The 113% target is near 0.687.
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...