The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
USD/CHF broke support trendline
- USD/CHF broke support trendline
- Next sell target - 0.9860
USD/CHF recently broke through the support trendline which has been reversing the price from the middle of April. The breakout of this support trendline should accelerate the active minor corrective wave (ii) – which started previously from the major resistance level 1.0060. USD/CHF is expected to fall further toward the next sell target at the next support level 0.9860 (low of the previous correction 2).
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.