What's Happening In The Forex Markets Today
The USD has stayed on the front foot, with risk-on currency pairs dropping. Here's our chart setups for the day.
AUD/USD has traded to support, as we outlined in yesterdays chart breakdown.
EUR/USD has pressed down into the support we outlined. We are looking for a slight press into this zone prior to some correction.
The RSI is showing significant bullish divergence and price has pushed into support. Looking for price to stabilise around the 1.1300 mark today.
GBPNZD is trading to the upside currently, and we're looking for this move to continue to the resistances above price. The RSI is now trading at bullish levels.
We're eyeing support around 1.9140 level of structure and the 500 hour moving average. We anticipate a small pullback today prior to continued upside.
USD/CHF has traded into daily resistance at the 500 moving average and the resistance trendline. We anticipate a press higher to hold around the trendline, and are looking for a break or bounce scenario.
Price still has a small move above to tap the resistance trendline, and then we are looking for supports to be tested at the short term trendline and the moving average supports.
Price gave the pullback we were previously looking for and bounced from the support zone we outlined. We're now looking for upside pressure to break the recent highs, and if price is able to we will look for a sustained move into the 1.27500 region where fibonacci and structure resistance lie.
Price bounced from the support we outlined and is making a slight retracement. We are looking to continue trading this pair long, and any move into the moving averages as a potential entry.