On H4 of NZD/JPY, the pair rebounded from the low at 70.43 and moved up.
Daily Market Analysis
AUD/USD has been falling since the start of 2018. On W1, the pair formed a “Falling three method” candlestick pattern.
Technical analysis of GBP/JPY
The Australian dollar is affected by weak fundamentals and risk aversion.
USD/CAD is another pair that has the potential to make significant moves in the near term.
Last week USD/CHF broke below the uptrend support line of 2018.
CHF/JPY met the resistance of the declining 50-day MA and turned down. Its potential target lies at the support line connecting the lows of May in the 108.25 area.
Check the chart of EUR/AUD. The pair has reached the 50% Fibo retracement of the 2008-2012 decline.
On the H4 of AUD/JPY, the pair formed the “Head and shoulders” pattern.
The NZD remains in a downtrend versus the CHF and the JPY as the market is still in the risk-averse mode.
WTI oil formed a “dark cloud cover” pattern on D1 near the downtrend resistance line.
Technical analysis of AUD/CHF