Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
USD/JPY could make a leg higher towards 105.60
USD/JPY is looking for clues that help to strengthen the bulls in the short-term, as the pair scopes to make a corrective move in favor of such bias. According to our projections in the H1 chart, the corrective move could go as long as the Fibonacci level of 50% at 105.63. If the pair manages to make a pullback around that area, it’s expected to fall towards the -23.6% Fibo area at 104.15. However, if the 105.63 level gives up, then the highs from March 21st could be challenged.
RSI indicator is moving into the neutral territory, calling for a sideways consolidation.
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.