Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD hovering around a strong demand zone
EUR/USD has started a bearish correccion following a strong resistance found at the 1.2396 level and currently, it’s trading around the 200 SMA at H1 chart, which also coincides with the 200 SMA. A swing low formation could happen around that area and eventually a rebound could put the pair on its way to reach the -23.6% Fibonacci level at 1.2439. To the downside, a strong support lies at the 1.2253 level, where is located the Fibonacci zone of 78.6%.
RSI indicator stays in the oversold territory, favoring to the aforementioned rebound.
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.