AUD/NZD is making movements to the downside which are hard to ignore.
USD/CHF: the franc dreams about the “wedge”
TP1 0.9755 TP2 0.9725 TP3 0.9625
On the daily chart of USD/CHF, bulls failed to pull the pair out of the upper boundary of the 0.9855-0.9995 consolidation. It signals the weakness of bulls. The “Shakeout-Fakeout” pattern was formed. If it is implemented, bears will take an initiative.
On H1, there are odds of the implementation of the “Broadening wedge” pattern. To implement the pattern, bears need to break the support at 0.9855. As a result, risks of the downward movement to the 161.8% target of the “Crab” pattern will increase.
USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…