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/SGD: a harmonic pattern
SELL 1.3700; TP1 1.3645; TP2 1.3620; SL 1.3720
The chart of USD/SGD offers a look at what seems like a harmonic “Bat” pattern. The pair is currently forming point D. It should be located somewhere around 1.3705 (88.6% Fibo of AB). In addition, there’s a 200-week MA in this area. This means that USD/SGD will likely run into resistance and turn down allowing to make a bearish trade.
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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