Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
USD/CAD: is the CAD stronger?
Recommendation: SELL 1.327
TP1 1.317 TP2 1.308 TP3 1.289
On the daily chart of USD/CAD, bears couldn’t keep the pair within the downward channel, it signals their weakness. Bulls want to push the pair to targets of the “Shark” pattern (113%) and “Wolfe Waves”. When the pair reaches the 1.327-1.3315 convergence, risks of the rebound will increase.
On H1, bulls are stronger. A break of the resistance at 1.316 will increase the chance that the pair will reach the 113% target of the “Shark” pattern. However, after the pair reaches it, risks of the correction will increase.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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.
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