Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
CAD/CHF broke support zone
- CAD/CHF broke support zone
- Next sell target - 0.7500
CAD/CHF today broke through the support zone lying between the key support level 0.7600 (which stopped earlier waves (1) and 4), 50-day moving average and the 50% Fibonacci correction of the previous sharp upward impulse from March. The breakout of this support zone continues the active intermediate impulse wave (3) from the end of May. CAD/CHF is expected to fall further toward the next sell target at the next support level 0.7500.
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.