USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CAD: the CAD has chances
TP1 1.305 TP2 1.3025 TP3 1.2965
On the daily chart of USD/CAD, after the pair reached the 1.3285-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns), a logical pullback happened. To keep controlling the pair, bulls need to keep it above 1.308.
On H1, there is a transformation of the "Shark" pattern to 5-0. A risk of the correction to 23.6%, 38.2%, and 50% from the CD wave is high. At first, bears need to break the support at 1.315.
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.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
There has been some movement in the EUR/USD chart. What's happening?
The US-China relations are getting more tensed over Hong-Kong. How does that affect the USD?