Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: 'Flag' led to new high
The last 'Flag' led to the current upward price movement. The main intraday target is the next resistance at 1.1853 - 1.1896. A pullback from this area could be a departure point for another decline towards the nearest support at 1.1799 - 1.1762.
It's likely that there's a 'V-Top' pattern, so the market is going to test the closest support at 1.1799. If a pullback from this level happens little later on, there'll be a moment to have an upward price movement towards the next resistance at 1.1853 - 1.1896.
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.