USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
USD/CAD: the fights around 1.28
BUY 1.2920 SL 1.2865 TP1 1.3020 TP2 1.3160 TP3 1.3290
SELL 1.2730 SL 1.2785 TP1 1.2630 TP2 1.2570 TP3 1.2000
On the daily chart of USD/CAD, there’s a “Spike and ledge” pattern. A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD. On the other hand, a break of support at 1.2730 will increase the odds of 127.2% target of a “Bat”.
On H1, the risks of USD/CAD going to 88.6% and 161.8% targets of “Shark” and AB=CD are balanced.
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...