Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: 'Double Bottom' pattern
There's a 'Double Bottom' pattern, so the market is likely going to test the nearest resistance at 1.2377 - 1.2395 in the coming hours. If a pullback from this area forms, there'll be an opportunity to have a decline towards the next support at 1.2344 - 1.2335.
The price has been rising since the last 'V-Bottom' was formed. The main intraday target is the closest resistance at 1.2377 - 1.2395, which could be a departure point for a bearish correction.
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.