AUD/NZD experienced an impressive rally since the end of March.
USD/CAD: bears prepare an attack
On the daily USD/CAD chart bulls and bears are fighting for an important area of 1.3435-1.3505. Bulls’ victory will allow them to count on the resumption of the medium-term uptrend. On the other hand, if bears win, the odds of Wolfe Waves pattern will increase.
On H1 USD/CAD keeps consolidating in the 1.3430-1.3535 in line with reversed Spike and Ledge pattern based on 1-2-3. Bears have approached 1.3430 and, in case of its successful test, will be ready to resume the short-term downtrend.
Recommendation: SELL 1.3430 SL 1.3485 TP1 1.3330 TP2 1.3280 TP3 1.3165.
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…