The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.
Daily Market Analysis
USD/BRL has started the week with a substantial move to the downside. The pair formed a lower high last week, thus the price action strongly resembles the “Head and Shoulders” pattern.
Last week AUD/USD managed to take off from the 0.7660 area. Then it consolidated between 0.6855 and 0.6810.
XAU/USD ran into the resistance of the 50-day MA in the 1,481.65 area. Learn more!
Technically, Brent made a big advance yesterday rising from the support of the 100- and 50-day MAs in the 61.25 area.
The attempt of AUD/CHF to overcome 0.6800 so far hasn’t been successful. The pair formed a “spinning top” candlestick on the D1 on Tuesday.
EUR/USD was supported in the 1.0990 area last week. The support was strengthened by the fact that the attempted breakout of this level failed.
The stock of Pepsico formed a higher low and arrived at the resistance line that connects October and November highs in the 136.50 area.
USD/JPY had a bullish week. Yet, we should notice that the pair has reached some heavy resistance: 100-week MA (109.66) and 200-week MA (109.84).
GBP/USD met resistance at 1.2950 (resistance line connecting the highs of November). The Awesome Oscillator on the D1 is declining.
USD/MXN has been strengthening since the start of November, although you can notice by looking at the chart that the advance hasn’t been smooth.
For the past couple of days, USD/CHF has been consolidating below the resistance line that connects the highs of October and November in the 0.9990 area.