Technical analysis of the USD/CAD
AUD/CHF may consolidate
Information is not investment advice
On the daily chart of AUD/CHF, the pair is near the resistance at 0.6936. RSI is near the overbought area, Stochastic oscillator is already there. It means that the risks of the fall are high. In the case of the rebound, the pair will move to the support at 0.6878. Rise of the pair may be seen if only it sticks above 0.6936. However, the next resistance is close - 0.6990.
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USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.
A bearish “engulfing” pattern was formed on the W1 chart of NZD/USD around the 38.2% Fibonacci retracement level of the July-October decline.