Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/NZD reversed from support zone
- EUR/NZD reversed from support zone
- Next buy target - 1.7360
EUR/NZD recently reversed up from the support zone lying between the support level 1.7140 and the 38.2% Fibonacci correction of the previous upward impulse from the middle of June. The upward reversal from this support zone started the active minor impulse wave 3. EUR/NZD is expected to rise further toward the next buy target at the next resistance level 1.7360 (top of wave 1).
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend.