Long-term and short-term analysis of the Australian dollar's performance against the US dollar.
GOLD: 'Tower' pushing price to 'Window'
Information is not investment advice
The last bullish 'Tower' led to the current upward price movement. However, we've also got a bearish 'Harami', which hasn't been confirmed yet. Therefore, the market is likely going to test the upper 'Window' (1328.48), which acted as resistance before. The subsequent pullback from this level could lead to a local decline towards the 55 Moving Average.
A local flirting with the resistance or a serious intention to break through? We will examine the price action of GBP against CHF on high timeframes to answer this question.
The bearish bias appears to start losing power. The market reversal upwards is still to be confirmed.
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USD/CHF continues its December descent. The pair’s attempt to return above the 0.9845 area has failed.
The Federal Reserve meeting is today at 21:00 MT time. Analysts widely expect the Fed to keep rates on hold at the 1.5%-2% range