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.
USD/CHF: bulls are destroying obstacles
TP1 0.9810 TP2 0.9860 TP3 0.9945
On the daily chart, USD/CHF reached 88.6% and 261.8% targets of the “Shark” and AB=CD. This increases the risks of a correction. To continue the way up, the pair needs to overcome resistance at 0.986 and 0.9945.
On H1, USD/CHF keeps forming “Spike and reversal with acceleration”. As long as the pair is above the trendline of the initial stage (0.96-0.9625), bulls will be in control of the market. Pullbacks of support at 0.9750 and 0.9710 may be used for buying.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.