Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
AUD/NZD formed a top
Information is not investment advice
AUD/NZD formed a “shooting star” candlestick on the W1. The pair ran into the resistance line from the 2018 highs and failed to close above the 200-week MA at 1.0650. These are serious arguments in favor of the further decline. The initial target lies at 1.0510 (50-week MA). There may be some support at 1.0550 (trendline). Only the return back above 1.0650 will improve the picture.
Trade idea for AUD/NZD
SELL 1.0545; TP 1.0510; SL 1.0560
Elizabeth Belugina
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