Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
AUD/USD on its way to duplicate a bearish cycle
AUD/USD has been trading in a bearish tone across the board and is making a breakout below the lows from the last three weeks. This move has allowed to the Aussie to consolidate the price action below the 200 SMA, at which it found strong dynamic resistance and that’s why we’re expecting a lower continuation towards the Fibonacci level of 100% at 0.7608. To the upside, if the pair manages to rebound at the current stage, then the next target would be the highs from last week.
RSI indicator stays in the oversold territory, favoring to the bullish scenario.
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.