Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Bitcoin (BTC/USD) looking to break above the 200-hr SMA
Bitcoin has managed to recover from the support level of 6281 and we are currently seeing a break of a bearish channel on the H1 chart. The price is hovering around the 200-hour moving average, where cryptocurrency could find dynamic resistance to resume the bearish bias at any time.
The Liechtenstein government has announced that it will avoid "excessive" regulation of the Blockchain technology but has highlighted the idea of establishing a regulatory framework. In addition, it has been announced that several Australian Bitcoin exchanges will begin to implement rules that prevent money laundering through these platforms.
The Parabolic SAR is providing support for the current price action, which suggests that we could see an upward extension towards the resistance zone in 7586. The MACD indicator remains in positive territory and is not showing significant divergences that could indicate a sharp change in the trend in the short term.
What do we expect?
According to our forecasts in the H1 chart, the BTC/USD pair is consolidating gains in the area of the 200-hour moving average, which is shown as a key resistance, followed by the 7586 level. break above that area, the crypto currency could gain momentum to go to the next target at 8906. A pullback at current levels could lead the BTC to touch the support level of 6281.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
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.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.