Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'Thorn' led to current consolidation
The last 'Thorn' pattern led to the current consolidation. It's likely that the market is going to test the closest resistance at 1.3157 - 1.3172. This area could be a starting point for a decline towards the nearest support at 1.3132 - 1.3101.
The market is consolidating under the Moving Averages. The main intraday target is the next support at 1.3101 - 1.3081. If a pullback from these levels forms next, we're likely going to have a bullish price movement towards another resistance at 1.3157 - 1.3172.
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.