Trading Zone

*Updated as of Friday’s close,  22 June 2018*

NZDUSD:

NZDUSD

NZDUSD traded back to previous support and showed downside weakness followed by a strong green candle close on Friday. It is highly possible that the upside strength will continue for the next week and the area to watch would previous resistance (~0.723) that held the pair.

USDCAD:

USDCAD

After breaking out from the major daily trendline resistance, the upside strength has been very strong for USDCAD. On Friday’s close, USDCAD started to show some upside weakness with a long wick on the upside with a red candle close. It is possible that the pair might see some downside movement for the week ahead and the area that could possibly hold the pair is the previous high, ~1.31

Legend:

Monthly Levels: Represented in Red

Weekly Levels: Represented in Blue

Daily Levels: Represented in Black

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