Long-term and short-term analysis of the Australian dollar's performance against the US dollar.
EUR/USD reversed from resistance zone
- EUR/USD reversed from resistance zone
- Next sell target - 1.2200
EUR/USD recently reversed down from the resistance zone lying between the key resistance level 1.2500 (which has been reversing the price from the end of January, as can be seen below) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous minor impulse wave 3. EUR/USD is expected to fall further toward the sell target at the next support level 1.2200 (low of the previous minor correction 2).
A local flirting with the resistance or a serious intention to break through? We will examine the price action of GBP against CHF on high timeframes to answer this question.
The bearish bias appears to start losing power. The market reversal upwards is still to be confirmed.
USD/CHF continues its December descent. The pair’s attempt to return above the 0.9845 area has failed.
The Federal Reserve meeting is today at 21:00 MT time. Analysts widely expect the Fed to keep rates on hold at the 1.5%-2% range
NZD/USD met resistance around 0.6565 (61.8% Fibonacci of the July-October decline, top of the October-December bullish channel).