AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
GBP/AUD is leaning down
Information is not investment advice
On October 16, GBP/AUD met resistance in the 1.9090 area (resistance line from March highs). Since then, the pair has been consolidating with a bearish bias. On the D1, the price is far above the MAs. This makes the pound vulnerable for a decline to 1.8635 (100-period MA on the H4). The move down will be triggered in case of the decline below 1.8705 (38.2% Fibo retracement of the October advance). Bulls need to push the price above 1.8840 to get a chance to return to the 1.90 area.
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
According to Westpac, the AUD is undervalued. What target do they set?
Ichimoku Kinko Hyo EUR/JPY: The pair is trading above the cloud…
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