Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: market to test next resistance area
The main trend is still bearish, but there's a 'Double Bottom' pattern, which has been confirmed. So, the market is likely going to test the nearest resistance area at 1.1762 - 1.1799, which could be a departure point for another decline.
All the Moving Averages have been broken. At the same time, it's likely to have a local bearish correction towards the closest support at 1.1679 - 1.1661. If a pullback from this area happens little later on, there'll be a moment to have an upward price movement in the direction of the next resistance at 1.1762 - 1.1799.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
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.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.