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 is waiting for the signal from the “wedge”
TP1 1.296 TP2 1.2885 TP3 1.2845
On the daily chart of USD/CAD, bears couldn’t break the support at 1.2885 and keep the pair below 1.296. It signals their weakness. Bulls took the initiative and want to implement the “Shark” pattern and reach its 88.6% target.
On H1, the break of the resistance at 1.3165 will implement the junior “Shark” pattern with the 113% target. Vice versa, if bulls can’t do that, there will be odds of the “Broadening wedge” pattern’s implementation.
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?