Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
AUD/USD: upward correction is underway
Information is not investment advice
The last 'V-Bottom' pattern led to the beginning of the current upward correction. At the same time, there's a 'Thorn' pattern, so we could have a local downward correction in the coming hours. Thus, the market is likely going to test the closest support at 0.7022. This level could be a departure point for a bullish price movement towards another resistance at 0.7071 - 0.7086.
Technical analysis of the USD/CAD
Technical analysis of USD/CHF
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!
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.