Technical analysis

Technical analysis

26 February 2021
  • 21:29

    NZD / USD retreated from a three-year high


    Today, the NZD/USD pair continues the decline that began during yesterday's US trading. The pair declined to $0.7250, after a sharp rise yesterday to a three-year high of $0.7465. On the hourly chart, NZD / USD is testing the MA (200) H1 moving average line ($1.7295) and remains above MA (200) H4 ($0.7215) on the four-hour chart. Technically speaking, a session low of $0.7250 may keep prices from falling further. If it breaks through, the pair may fall to $0.7200. The session high of $0.7380 represents a resistance level. The most likely range of price movement for today may be hidden within the existing range of $0.7250-$0.7380


    Resistance levels are: $0.7380, $0.7465, $0.7500

    Support levels are: $0.7250, $0.7200, $0.7135-55


    The main scenario for the pair's promotion - correction and may be a rise to the session high of $0.7380

    An alternative scenario - breakout of the session low of $0.7250, maybe a decline to $0.7200 (February 19 low)

  • 21:18

    USD / JPY remains above MA (200) H1

    Today, the USD/JPY pair is trading in the range of Y105. 80-106. 15-near the almost five-month high (Y106.20) reached last week. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y105. 60) and on the four-hour chart, it is trading above MA (200) H4 (Y104.65). In this situation, it is probably worth sticking to the north direction in trading and looking for exit points to buy.

    Resistance levels are: Y106.20, Y106.55, Y106.95

    Support levels are: Y105.60-80, Y104.90, Y104.55


    The main scenario for the pair's promotion -breakout of the resistance of Y106. 55 (September 3 high, session high) and then, perhaps, a rise to Y106. 95-107. 05 (April 12-14 and 18 highs).

    An alternative scenario -  the session low of Y105.85 and the line  MA (200) H1 (Y105.70) are broken, the pair may fall to Y104. 90 (February 23 low)


  • 21:03

    USD / CHF remains above MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0. 9025-65, after rising this week to a three-month high of Chf0.9090. The pair broke through the resistance of Chf0. 9025, which became the nearest support. On the hourly chart, the pair remains above the moving average line MA (200) H1 (Chf0. 8995), and on the four - hour chart-above MA (200) H4 (Chf0.8935). In this situation, it is probably worth sticking to the north direction in trading and, at the end of the correction, look for exit points to buy.


    Resistance levels are: Chf0.9095, Chf0.9145, Chf0.9190

    Support levels are: Chf0.9025, Chf0.8995, Chf0.8930


    The main scenario for the pair's promotion - correction, growth to Chf0. 9095 (February 24 high) and then maybe to Chf0. 9145 (November 23 high)

    An alternative scenario - breakout of the session low of Chf0. 9025 (February 22 high, February 24 low) and then, perhaps, a decline to MA (200) H1 (Chf0.8995)




  • 20:54

    GBP / USD retreated from the highs of April 2018

    Today, the GBP/USD pair is trading mainly with a decline in the range of $1.3885-1.4020, retreating from the high of April 19, 2018 of $1.4240-45, reached this week. On the hourly chart, GBP / USD fell slightly below the moving average line of MA (200) H1 ($1.4010), but on the four-hour chart it remains above MA (200) H4 ($1.3785). Technically speaking, the $1.3885 support may keep prices from falling further. If it breaks through, the pair may fall to $1.3775. MA (200) H1 ($1.4010) represents the resistance level. The most likely range of price movement for today may be hidden within the existing range of $1.3885-1.4020.


    Resistance levels are: $1.4010, $1.4085, $1.4180

    Support levels are: $1.3885, $1.3775, $1.3680


    The main scenario for the pair's promotion - breakout of MA (200) H1 ($1.4010), and then maybe a rise to $1.4085 (February 22 high)

    An alternative scenario - break through the session low of $1.3885 and maybe decline to $1.3775 (February 12 low)

  • 20:08

    EUR / USD is declining and is testing MA (200) H1

    Today, the EUR/USD pair continues to decline, which began during yesterday's US trading. The pair declined to $1.2090, after a sharp rise yesterday to a six-week high of $1.2240. On the hourly chart, EUR / USD is testing the MA (200) H1 moving average line ($1.2125). On the four-hour chart, the situation is similar. Technically speaking, a strong support level of $1.2080-90 may keep prices from falling further. If it breaks through, the pair may fall to $1.2020. The session high of $1.2180 represents a resistance level. The most likely range of price movement for today may be hidden within the existing range of $1.2080-$1.2180


    Resistance levels are: $1.2125, $1.2180, $1.2240

    Support levels are: $1.2080-90, $1.2020, $1.1950


    The main scenario for promoting the pair  - correction and may be a rise to $1.2180 (February 23 high, session high)

    An alternative scenario - break of the resistance of $1.2080-90 (February 19-22 lows) and then, perhaps, a decline to $1.2020 (February 17 low)


  • 15:15

    The USD/CAD is testing the MA 200 H1 resistance

    Yesterday the USD/CAD was trading higher and closed the day in positive territory around the C$1.2610. Today it was trading in a narrow range of C$1.2590-45, staying close to yesterday's closing price. On the hourly chart, USD/CAD is testing resistance - the moving average MA (200) H1 (C$1.2625). On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the USD/CAD remains below MA 200 H1, it may be necessary to look for a sell entry point at the end of the correction.

    • Resistances levels are at: С$1.2645-50, С$1.2710, С$1.2745

    • Support levels are at: C$1.2555, C$1.2470, C$1.2400

    Probably, the main scenario - is the continuation of the decline to C$1.2555 (low of the American session on Feb 25). An alternative scenario - may be final consolidation above MA (200) H1 with a subsequent rise to C$1.2745 (Feb 17 high).

  • 14:57

    AUD/USD continues yesterday's decline

    Yesterday the AUD/USD was trading lower and closed the day in the red around the $0.7865. It also dropped slightly today, dropping to $0.7820. On the hourly chart, AUD/USD is testing the strength of the support - the MA line (200) H1 ($0.7845). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the above, it is probably worth sticking to the northern direction in trading, and while the AUD/USD remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: $0.7915, $0.8000, $0.8100

    • Support levels are at: $0.7760, $0.7730, $0.7710

    Probably, the main scenario - is the continuation of the upward movement to $0.7915 (high of the American session on Feb 25). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $0.7710 (Feb 11 low).

  • 14:38

    Gold remains below MA 200 H1

    The XAU/USD was trading lower yesterday and closed the day in the red around $1769. Today gold was trading in a narrow range of $1765-75, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading below the MA line (200) H1 ($1794). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the XAU/USD remains below MA 200 H1, it may be necessary to look for entry points to sell on the formation of a correction.

    • Resistances levels are at: $1783, $1813-15, $1826-30

    • Support levels are at: $1760, $1748, $1700

    Probably, the main scenario - is the continuation of the downward movement to $1760 (Feb 19 low). An alternative scenario - may be final consolidation above the MA 200 H1 with a subsequent rise to $1830 (Feb 16 high).

  • 14:07

    Oil stays above MA 200 H1

    Yesterday Brent crude was traded in different directions in the range of $66.20-$67.40 and closed the day without significant changes. Today oil has dropped slightly, falling to $65.85. However, on the hourly chart, Brent is still trading above the moving average MA (200) H1 ($64.20). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while Brent remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: $67.40, $68.00, $69.00

    • Support levels are at: $65.45, $64.25-50, $62.10-45

    Probably, the main scenario - is a subsequent rise to $67.40 (Feb 25 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $60.35 (Feb 12 low).

  • 13:55

    USD/JPY remains above MA 200 H1

    Yesterday, the USD/JPY was trading higher and closed the day in positive territory around the Y106.20. Today it was trading in a narrow range of Y105.85-40, staying close to yesterday's closing price. On the hourly chart, USD/JPY is still trading above the MA line (200) H1 (Y105.65). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the USD/JPY remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: Y106.50-55, Y107.00, Y108.00

    • Support levels are at: Y105.85, Y105.45, Y104.95-05

    Probably, the main scenario - is the continuation of the upward movement to Y106.50 (Sep 4 high 2020). An alternative scenario  - may be consolidation below MA 200 H1, followed by a decline to Y104.90 (Feb 23 low).

  • 13:43

    USD/CHF remains above MA 200 H1

    Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9045. Today it was trading in a narrow range of Chf0.9040-65, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading above the MA line (200) H1 (Chf0.8985). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading, and while the USD/CHF remains above MA 200 H1, it may be  necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: Chf0.9090, Chf0.9135-45, Chf0.9165

    • Support levels are at: Chf0.9030, Chf0.8995, Chf0.8935-50

    Probably, the main scenario - is a further advance towards Chf0.9090 (Feb 24 high). Alternative scenario - may be final consolidation below MA 200 H1, followed by a decline towards Chf0.8875 (Feb 16 low).

  • 13:15

    GBP/USD is testing MA 200 H1 support

    Yesterday the GBP/USD was trading lower and closed the day in the red around $1.4005. Today it was trading in a narrow range of $1.3950-25, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing the strength of the support - the moving average MA (200) H1 ($1.4005). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading, and while the GBP/USD remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: $1.4050, $1.4180, $1.4240

    • Support levels are at: $1.3930, $1.3830-40, $1.3775

    Probably, the main scenario - is continued growth to $1.4050 (high of the American session on Feb 25). An alternative scenario - may be consolidation below the MA 200 H1 level with a subsequent decline to $1.3775 (Feb 12 low).

  • 12:57

    EUR/USD remains above MA 200 H1

    Yesterday the EUR/USD traded in different directions in the range of $1.2155-$1.2240 and closed the day without significant changes. Today it also traded in a narrow range of $1.2135-80, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.2125). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the EUR/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.2190, $1.2240, $1.2280

    • Support levels are at: $1.2110, $1.2090, $1.2065

    Probably, the main scenario - is continued growth to $1.2190 (high of the American session on Feb 25). An alternative scenario - may be consolidation below the MA 200 H1, followed by a decline to $1.2025 (Feb 17 low).