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: the loonie follows the “Bat”
TP1 1.301 TP2 1.2915 TP3 1.2795
On the daily chart of USD/CAD, bears try to counterattack and implement the “Bat” pattern. Its 88.6% target corresponds to 1.2795. First of all, bears need to break supports at 1.311 and 1.3055 and pull the pair out of the upward short-term channel.
On H1, there is the strong bullish trend. To counterattack, bears have to break the support at 1.311 and implement the AB=CD pattern.
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.
There are many things happening in the UK. What is the strategic outlook for the GBP?
The Australian dollar set a strong upward trend over a month. Will AUD loose its gains soon?