What Charts To Watch Today
AUDUSD & GBPUSD have traded into support, USDCAD has hit resistance and USD/CHF has dropped.
AUD/USD
1D Chart
Price has traded into support at the 0.7100 figure, and we're looking to see if price breaks or bounces from this level.
1H Chart
Price is stabilising at the support zone, and the RSI is showing strong bullish divergence. We anticipate a retracement into the recent structure around 0.7200.
GBP/USD
1D Chart
Price has reached a key support zone of both the channel support trendline and the structure zone. We are looking to see price either break to the upside from here or to drop below supports.
1H Chart
Our preference on the 1H chart is for price to make a retracement into recent highs around the 1.3500 level. Price has formed a falling wedge pattern (bullish), and the RSI has formed bullish divergence.
USD/CAD
1D Chart
USDCAD has hit multi-month resistance zone, and we are watching to see if price makes a break or bounce from this area.
1H Chart
Price has started to pull back from the resistance zone, and we're looking for this momentum to continue into the recent support at the 1.26500 figure.
USD/CHF
1D Chart
Price has bounced out of the resistance trendline, and has pulled back into a key structure support. We're watching to see if price breaks above this level or holds the zone as support.
1H Chart
We are now looking for USDCHF to retrace into the fibonacci golden pocket as resistance.
