USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/TRY is returning lower
SELL 5.6400; TP1 5.6165; TP2 5.5900; SL 5.6550
BUY 5.7100; TP 5.8000; SL 5.6800
USD/TRY has formed a big “shooting star” candlestick on the W1 last week. A similar formation is visible on the D1. The daily Awesome Oscillator is going down, so it’s natural to expect the continuation of the move down towards the July lows and the 200-day MA in the 5.5890/5.5770 area. The 50-day MA may at 5.6520 provide some support, so our short entry is located below this line. On the other hand, the return above 5.70 is needed for another round of the greenback’s strength.
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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