Cable did not hesitate too much on the horizontal resistance created by the lows from February 2016. We had a bit of bearish price action, but eventually, buyers managed to break that resistance and went significantly higher. Current sentiment is positive and will remain so as long as we stay above the 1.385.
DAX finally defended the upper line of the wedge as the closest support. It didn’t come easy though. There were some difficulties and the German index was significantly weaker than its American counterpart, but at the end of the day, buyers were successful here. Current sentiment is positive and the way has been paved for new highs.
AUDCAD is an exotic instrument but we can see a nice technical situation here. First of all, the price broke the long-term downwards trend line and then used it as a support. What’s more, the price is creating an inverse head and shoulders pattern. A further upswing is possible, especially since we’ve already broken the neckline.