USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CHF: franc wants more
TP1 0.9730 TP2 0.9630 TP3 0.9530
On the daily chart of USD/CHF, a break of the lower levels of a triangle and the uptrend channel allowed bulls to seize the initiative and form a “Spike and ledge”. Sellers aim to return the pair to the downtrend channel.
On H1, USD/CHF keeps forming a “Crab” with the target at 161.8%. As the pair is near the convergence area, the possibility of a pullback is high. As a result, it’s recommended to use pullbacks from the resistance levels for selling the pair.
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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