Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: 'Pennant' pattern pushed price higher
The pair has been rising since the last 'V-Bottom' pattern formed. The main intraday target is the next resistance at 1.1757 - 1.1790. A pullback from this area could be a starting point for a downward correction towards the 89 Moving Average.
The last 'Pennant' pattern pushed the price higher. Meanwhile, it's likely to have a bearish correction during the day. So, we should keep an eye on the closest support at 1.1720 - 1.1706 as a local target. If a pullback from these levels happens next, there'll be a moment for another upward price movement.
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.