USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/TRY may return to lows
SELL 5.52; TP1 5.50; TP2 5.45; SL 5.54
USD/TRY met resistance near the line connecting 2019 highs in the 5.62 area. This is also where the 50-week MA is capping the price. The pair is currently testing levels below the 200-day MA (5.55). The key area on the downside is located at 5.5220 (50-period MA on H4 and 200-hour MA on H1). The decline below this level will open the way down to the last week’s lows in the 5.45 zone.
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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