The antipodean central banks are seemed to do pretty well with the weak currency. Aren’t they?
USD/CAD: loonie is on a holiday
On the USD / CAD daily chart, the bulls failed to test the resistance at 1.3405. This led to the formation of the consolidation range 1.328-1.341. A breakout of the lower border of the upward trading channel followed by successful tests of the supports at 1.3305 and 1.328 will send quotes lower. In contrast, a successful test of the resistance at 1.3405 can lead to the transformation of the "Shark" pattern into 5-0 and restoration of the uptrend.
On the USD/CAD hourly chart, there is consolidation in the range of 1.328-1.34. Traders should bet on a breakout of its upper or lower borders.
Recommendation: BUY 1,34 SL 1,3345 TP 1,352, SELL 1,328 SL 1,3335 TP 1,312.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...