Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: 89 Moving Average acted as resistance
The 89 Moving Average has acted as resistance, so there's a local bearish correction. Nevertheless, the market is likely going to test the next resistance at 1.1720 - 1.1744, which could be a starting point for a decline towards the nearest support at 1.1673 - 1.1652.
The last 'Pennant' pushed the price higher. However, there's a 'V-Top', so the price is likely going to test the Moving Averages shortly. If a pullback from these lines formes next, there'll be a moment for another bullish price movement.
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.