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Last week GBP/CHF topped at 1.2475 as it met the previous support and now resistance line connecting the 2016 and 2018 lows. The pair formed a bearish “shooting star” pattern on the W1. This week the pair has slipped below the declining 100-day MA at 1.2320. The decline below 1.2165 (the 38.2% Fibonacci retracement of the August-September advance) will open the way down to 1.2100 (200-period MA on H4) and 1.2075 (the 50% Fibo and 50-day MA). The outlook will remain negative as long as GBP/CHF is staying below 1.2280 (Thursday’s high).
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
How does the GBP/USD look like?
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
AUD looks stronger, RBA keeps the rate steady. How positive is the picture?
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
The USD/CAD price has been falling down since March 19. What are the reasons?
