Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/CAD broke support zone
- EUR/CAD broke support zone
- Next sell target - 1.5500
EUR/CAD continues to fall after the earlier breakout of the support zone lying between the pivotal support level 1.5750 (which stopped the previous minor correction (iv) in Match, as can be seen below) and the 38.2% Fibonacci correction of the sharp upward impulse from the end of January. EUR/CAD is expected to fall further toward the next sell target at the next support level 1.5500 (low of wave (iv) from February).
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.