Long-term and short-term analysis of the Australian dollar's performance against the US dollar.
EUR/GBP: rebounded from maximums
On the daily chart of EUR/GBP, the pair touched picks above 0.93 and moved down. RSI indicator has left the oversold area, same as MACD formed new maximums. If we look at H4, we will notice that the RSI indicator has been sliding. RSI indicator on both H4 and daily charts signal a continuation of the downward pressure. The first target lies at 0.9240. If the fall prolongs, 0.9225 level will become the next point for short. Targets are at 0.9211 and 0.91849.
However, the pair may turn around and we will see a movement towards previous highs. EUR/GBP will target 0.9311. The next targets are at 0.9355 and 0.94.
A local flirting with the resistance or a serious intention to break through? We will examine the price action of GBP against CHF on high timeframes to answer this question.
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