Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
AUD/USD finding dynamic resistance
AUD/USD is off from March 30th highs following a strong dynamic resistance found in the 200 SMA at H1 chart. Such area act as a strong barrier for buyers, as it coincides with the Fibonacci level of 50% at 0.7699. After that move, Aussie scopes to break below 0.7642 in order to reach the Fibonacci zone of -23.6% at 0.7614, which should strengthen the bearish bias across the board. However, if the 0.7716 level gives up, the next target would be the 0.7756 level.
RSI indicator stays in the negative territory, favoring to the bears in the short-term.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.