Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
CHF/JPY broke key support level 110.50
- CHF/JPY broke key support level 110.50
- Next sell target - 108.40
CHF/JPY continues to fall sharply after the earlier breakout of the key support level 110.50 (which reversed the previous impulse waves (1), B and 1, as can be seen from the daily CHF/JPY chart below). The breakout of this support level 110.50 accelerated the active impulse waves 3 and (3). CHF/JPY is expected to fall toward the next sell target at next support level 108.40 (target for the completion of the active impulse wave (3)).
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.