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.
EUR/USD at the 3-weeks low
On the H4 chart of EUR/USD, we see that the euro has started the week at the 3-weeks low, where it has reached last Friday. In fact, it has already broken through the support of 1.1023, aiming at the next support level at 1.1004. As the RSI indicator confirms, currently the price is in correction, with 1.1052, 1.1077, and 1.1091 as the nearest resistance levels. Otherwise, the traders would need to watch out for the bears to continue pulling the currency further down.
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An observation of the historical performance of Alcoa stock price and the possible future perspectives.