Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 34 Moving Average acted as resistance
The 34 Moving Average has acted as resistance. Previously, we had a 'Triple Top' pattern, which led to the current upward price movement. It's likely that the pair is going to test the 55 Moving Average shortly, but even so, we should be ready for another decline towards the nearest support at 1.2784 - 1.2763.
There's another 'V-Top' pattern, but the price is still above the Moving Averages, so we could have a new local high shortly. Nevertheless, there's an opportunity to have a bearish price movement towards 1.2805 - 1.2795 in the coming hours.
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.