EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
AUD/CHF may fall further
Information is not investment advice
Given the global economic and political background, there are all reasons to expect further deterioration in the market’s risk sentiment. In this environment, selling AUD/CHF seems like a good idea. The technical setup is also favorable for short positions. This month, the pair has firstly run into the resistance of the declining 100-day MA at 0.6845 and then slipped below the 50-day MA at 0.6715. An attempt to get above this level which took place yesterday failed. Now the fall below 0.6675 (50% Fibo of August-September advance) will open the way down to 0.6630 and 0.6575, 61.8% and 78.6% Fibo retracements levels respectively.
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
USD/CAD has been falling for a long rime. Has it hit the bottom?
Asian equity markets were mostly positive amid several bullish factors including ongoing vaccine hopes
There are a lot of movements in the currency market now - therefore, a lot of opportunities. Let's see how the USD trades against its peers and how to use that in the short-term.