USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/MXN is trying to recover
BUY 19.51; TP 19.6670; SL 19.45
BUY 19.6150; TP1 19.6670; TP2 19.73; SL 19.59
USD/MXN was supported by the 50-week MA around 19.38 and the 100-day MA at 19.33. The pair also went above the 50-day MA (now at 19.52). On the H4, we see a series of higher highs and lows. This may mean that USD/MXN has found a short-term base and may test resistance at 19.67 (38.2% Fibo of the August-September decline and the 200-period MA on the H4). The next level to watch on the upside will be at 19.78 (50% Fibo). Support lies at 19.5095 and 19.4500 (MAs on the H4).
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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