The USD is helped by the demand for it as a safe haven and the lack, while the CAD is pressured by the declining oil prices.
NZD/USD turned down
SELL 0.6730; TP 0.6650; SL 0.6750
Last week NZD/USD made a significant thrust to the downside. The pair went below the 200-day MA that is now providing resistance in the 1.6730 area. The weekly pivot point is located at 1.6710 and the picture will remain bearish as long as NZD/USD is trading below this level. It looks like the pair is finally breaking the previous range between 0.67 and 0.6950 to the downside. That’s why we favor sell trades.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…