AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
USD/CHF: look for buy trades
Information is not investment advice
USD/CHF shot up last week from the 200- and 100-week MAs in the 0.9840/50 area and reached the 0.9940 zone where it met some resistance. The pair formed a higher low and broke above resistance line from early May. Indicators show that it has the potential to shoot upwards, although this may happen after a correction lower. The break above 0.9950 will open the way up to 0.9980 (200-day MA) and 1.0015 (June high). The closest support is at 0.9910 (50-day MA). If USD/CHF falls below it, traders will have a chance to place bullish bets at 0.9860 (support line connecting June and July lows).
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.
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