Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
NZD/JPY reversed from support area
- NZD/JPY reversed from support area
- Next buy target - 78.00
NZD/JPY recently reversed up from the support area surrounding the key support level 76.20 (which has been reversing the price from last November, as can be seen below). This support zone was further strengthened by the lower daily Bollinger Band. NZD/JPY is expected to rise toward the next buy target at next resistance level 78.00 (intersecting with the 38.2% Fibonacci correction of the downward impulse from January).
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.