Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: local 'V-Bottom' pattern
Bears faced with support at 1.2186, so the price is consolidating. Even so, the market is likely going to test the nearest support at 1.2164 - 1.2154, which could be a departure point for an upward correction.
There's a 'V-Bottom' pattern, so the pair is likely going to reach the closest resistance at 1.2233 - 1.2254. However, if a pullback from this area happens little later on, bears will probably try to achieve the next support at 1.2186 - 1.2164.
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.