The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
USD/CHF: 55 Moving Average acted as support
Information is not investment advice
The 55 Moving Average has acted as support, so there's a 'V-Bottom' pattern, which pushed the price higher. The next bullish target is the previously tested resistance at 1.0217 - 1.0235. If any bearish pattern forms thereafter, there'll be a moment to have a downward correction towards the nearest support at 1.0190 - 1.0169.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Technical analysis of the USD/CAD
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.