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/CHF: franc is at the crossroads
BUY 0.9985 SL 0.9930 TP1 1.0085 TP2 1.0195 TP3 1.0400
SELL 0.9920 SL 0.9975 TP1 0.9850 TP2 0.972 TP3 0.9620
On the daily chart of USD/CHF, an advance to May high will trigger AB=CD pattern with a target at 224% and increase the odds of the pair getting to the target of “Wolfe waves” pattern. On the other hand, a return of the pair to the downtrend channel will trigger the “Bat” pattern.
On H1, USD/CHF keeps forming a “Widening wedge”. A break of resistance at 0.9985 will open the way up. On the other hand, a break of support at 0.9920 will allow bears to seize the initiative.
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.
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