Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: 'Thorn' pushed price lower
There's a 'Thorn' pattern, which pushed the price lower. It's likely, that the market is going to test the nearest support at 1.1491. A pullback from this level could be a departure point for an upward price movement towards the Moving Averages.
The price is declining because of the last 'V-Top' pattern. Meanwhile, if a pullback from the closest support at 1.1552 happens next, bulls will probably try to reach the next resistance at 1.1574 - 1.1594. This area could be a starting point for another decline.
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.