Hello Traders,
Let’s hit the charts:
1. USD/CAD
In the last 7 weeks plus, price on the USD/CAD has hit support level 1.33325 for the 3rd time.
Could this be a sign of a weakness in the current support level? or
Are we going to see another reversal of price back to resistance level 1.34233?
One thing to note is:
If the current support level is broken, we may see price hit 1.31355, which would possibly be our next possible support level.
1. AUD/NZD
For over 10 months, AUD/NZD has continuously respected resistance level 1.08335.
The current resistance level is currently being retested for the 5th time.
Are we going to see a breakout of the resistance level which may most likely force price to the next possible resistance level? (1.10137) or
Are we going to witness price reverse for the 5th time, hence forcing price to revisit support level 1.06592
What are your thoughts?
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