USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CHF: bulls are destroying obstacles
TP1 0.9810 TP2 0.9860 TP3 0.9945
On the daily chart, USD/CHF reached 88.6% and 261.8% targets of the “Shark” and AB=CD. This increases the risks of a correction. To continue the way up, the pair needs to overcome resistance at 0.986 and 0.9945.
On H1, USD/CHF keeps forming “Spike and reversal with acceleration”. As long as the pair is above the trendline of the initial stage (0.96-0.9625), bulls will be in control of the market. Pullbacks of support at 0.9750 and 0.9710 may be used for buying.
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.
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