It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
USD/CHF: franc is showing signs of live
TP1 1.0065 TP2 1.0145
On the daily chart, USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”. On the other hand, advance above resistance at 0.9960 will increase the risks of going to 113% target of the “Shark” pattern.
On H1 of USD/CHF, the inability of bears to overcome convergence area near 0.9905 (161.8% targets of “Crab” and AB=CD) will be the first signal that the uptrend is resuming.
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.
The New Zealand dollar seems to be tipping out against the USD. Will that be another full cascade downwards?
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