Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD inside a key support area
The EUR/USD pair was smashed during Friday’s session amid a strong USD across the board, helping to push the pair towards the Fibonacci zone of 65% at 1.2255. If the pair manages to rebound above that area, we can expect a rally to test the Fibonacci area of -23.6% at 1.2513. To the downside, the 1.2255 could be a tough nut to crack and helps to cap more declines toward the 1.2216 zone.
RSI indicator stays in the negative territory, favoring to the bearish bias.
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.