It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
USD/CAD: a breakaway gap
SELL 1.3160; TP1.3105; TP2 1.3070; SL 1.3180
USD/CAD formed a lower high on W1. Moving averages are almost horizontal and the bullish momentum has declined. The pair can visit lower levels.
On D1, there’s a breakaway gap. The pair closed below the trendline support line on Monday. MACD is declining. Next Fibonacci at 1.3140 is in focus ahead of the 50-day MA at 1.3105. The rising 200-period MA at 1.3165 is still supporting the price on H4. A break below it will trigger the further decline.
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.
The New Zealand dollar seems to be tipping out against the USD. Will that be another full cascade downwards?
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