Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: pair consolidating under Moving Averages
The pair is consolidating under the Moving Averages. Also, there's a 'V-Bottom', which has been confirmed, so the market is likely going to test the closest resistance at 1.2658 - 1.2695. The subsequent pullback from this level could lead to another decline towards the next support at 1.2588 - 1.2514.
There's consolidation, which is taking place between the 89 and 34 Moving Averages. At the same time, there's a 'Pennant' pattern, so we should watch the nearest resistance at 1.2671 - 1.2686 as an intraday target. If a pullback from this area happens little later on, there'll be a moment to have a decline in the direction of 1.2588 - 1.2562.
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.