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: sellers lost the initiative
TP1 1.3225 TP2 1.3125 TP3 1.3025
On the daily chart, bears tried to form “Three Indians”, 1-2-3 and “Bat” with 88.6% target but failed to bring USD/CAD to an important support at 1.2925. Buyers got the initiative. If they manage to bring the pair out of the downtrend channel, the risks of bullish trend resumption will increase.
On H1, USD/CAD may form a “Broadening wedge”. A pullback from the lower border of the uptrend channel in the area of potential point 4 will be a signal for short positions.
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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