Technical analysis

Technical analysis

01 April 2021
  • 19:30

    NZD / USD is trading near a four-month low

    Today, the NZD/USD pair is trading in the range of $0.6940-85 -near a four-month low. The pair is trading below the moving average line MA (200) H1 ($0.7010) and on the four - hour chart-below MA (200) H4 ($1.7175). In this situation, it is probably necessary to stick to the southern direction in trading and at the end of the correction, it may be worth looking for exit points to sell.


    Resistance levels are: $0.7010-35, $0.7100, $0.7185

    Support levels are: $0.6940, $0.6895, $0.6860-75


    The main scenario for the pair's promotion - break of the support of $0.6940 (March 25 low) and may be a decline to $0.6895 (November 23 low)

    An alternative scenario - the breakout of the resistance is $0.7010-35 (March 30 high, MA (200) H1) and there may be an increase to $0.7100 (March 5-9 low, psychological level)


  • 19:24

    USD/JPY is trading near a one-year high

    Today, the USD/JPY pair is trading in the range of Y110. 55-85 - near the annual maximum. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y109. 50) and on the four-hour chart, it is trading well above MA (200) H4 (Y107.85). In this situation, it is probably worth sticking to the north direction in trading and should look for an exit point to buy. It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.

     

    Resistance levels are: Y110.95, Y111.70, Y112.25

    Support levels are: Y110.25, Y109.85, Y109.35-50


    The main scenario for the pair's promotion -  breakout of yesterday's high Y110. 95 and may be an increase to Y111. 70 (March 24-25’ 2020 high)

    An alternative scenario - if yesterday's low of Y110. 25 is broken, the pair may fall to Y109. 85 (March 26 high)

  • 19:16

    USD / CHF is trading near the highs of early July

    Today, the USD/CHF pair is trading in the range of Chf0. 9435-70-near the high of the beginning of July. On the hourly chart, the pair is trading above the moving average line MA (200) H1 (Chf0. 9370) and on the four-hour chart it remains well above MA (200) H4 (Chf0.9210). In this situation, it is probably worth sticking to the north direction in trading and should look for an exit point to buy.


    Resistance levels are: Chf0.9470, Chf0.9495, Chf0.9530

    Support levels are: Chf0.9400, Chf0.9370, Chf0.9335


    The main scenario for the pair's promotion - breakout of the session high of Chf0. 9470 and continuation of the upward movement to Chf0. 9495 (July 1 high)

    An alternative scenario - correction and may be a decline to Chf0. 9400 (March 31 low)

  • 19:14

    GBP pair tests MA (200) H1

    Today, the GBP/USD pair is trading in the range of $1.3745-95 and is testing the MA (200) H1 ($1.3770) moving average line. On the four-hour chart, the pair is trading well below MA (200) H4 ($1.3900). In this situation, it is probably necessary to stick to the southern direction in trading and at the end of the correction, it may be worth looking for exit points to sell.


    Resistance levels are: $1.3810,  $1.3850-75, $1.3960

    Support levels are: $1.3745, $1.3705, $1.3670


    The main scenario for the pair's promotion - correction and may be a decline to $1.3705 (March 30 low)

    An alternative scenario - consolidation above MA (200) H1 and then maybe a rise to $1.3845-75 (March 22-23 and 29 highs)


  • 19:11

    EUR / USD is trading near the lows of early November

    Today, the EUR / USD pair is trading in the range of $1.1710-45-near the low of the beginning of November. EUR / USD broke through the support of $1.1760, which became the nearest resistance. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.1805) and on the four - hour chart-below MA (200) H4 ($1.1965). In this situation, you should probably stick to the southern direction in trading and look for the exit point to sell, at the end of the correction.


    Resistance levels are: $1.1760, $1.1805, $1.1850

    Support levels are:  $1.1705, $1.1650, $1.1600

    The main scenario for promoting the pair  - correction, a break of yesterday's low of $1.1705 may be a decline to $1.1650 (October 29 low)

    An alternative scenario - correction, a break of the resistance of $1.1760 (March 25 low) and may be an increase to $1.1805 (March 26 high, МА (200) Н1)

  • 14:17

    The USD/CAD continues to test the MA 200 H1 resistance

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2560. Today, on the contrary, it rose slightly, rising to the level of С$1.2600. On the hourly chart, USD/CAD continues to test the resistance - the MA (200) H1 (С$1.2575) moving average line. The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering to the south direction in trading and until the USD/CAD finally consolidates above 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$1.2625, С$1.2645, С$1.2680

    • Support levels are at: С$1.2540, С$1.2520, C$1.2475

    Probably, the main scenario - is the continuation of the decline to C$1.2540 (Mar 31 low). An alternative scenario - may be the final consolidation above MA (200) H1 with a subsequent rise to C$1.2680 (Mar 10 high).

  • 14:00

    AUD/USD is trading below MA 200 H1

    Yesterday the AUD/USD traded in different directions in the range of $0.7590-$0.7635 and closed the day without significant changes. Today it dropped slightly, dropping to $0.7565. On the hourly chart, AUD/USD is still trading below the moving average MA (200) H1 ($0.7635). 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 AUD/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: $0.7635, $0.7665, $0.7700

    • Support levels are at: $0.7565, $0.7520, $0.7460

    Probably, the main scenario - is the continuation of the downward movement to $0.7565 (Mar 25 low). Alternative scenario - may be consolidation above MA 200 H1 with subsequent growth to $0.7755 (Mar 22 high).

  • 13:46

    Gold remains below MA 200 H1

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around $1707. Today gold was trading in a narrow range of $1705-13, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading below the moving average MA (200) H1 ($1722). 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: $1715, $1728, $1736

    • Support levels are at: $1678-82, $1658, $1640

    Probably, the main scenario - is the continuation of the downward movement to $1682 (low of the American session on Mar 31). An alternative scenario - may be consolidation above the MA 200 H1 with a subsequent rise to $1755 (Mar 18 high).

  • 13:28

    Oil is trading below MA 200 H1

    Brent crude traded lower yesterday and closed the day in the red around $62.95. Oil was trading in a narrow range of $62.85-25 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading below the moving average MA line (200) H1 ($63.55). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the south direction in trading, and while Brent 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: $65.00, $65.75, $68.20

    • Support levels are at: $60.20-85, $59.10, $58.05

    Probably, the main scenario - is a subsequent decline to $60.85 (Mar 29 low). An alternative scenario - may be consolidation above the MA 200 H1 with a subsequent rise to $70.10 (Mar 15 high).

  • 12:59

    USD/JPY is trading near March 2020 highs

    Yesterday the USD/JPY was trading higher and closed the day in positive territory around the Y110.70. Today it was trading in a narrow range of Y110.55-80, staying near the highs of March 2020. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y109.40). 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 for the formation of a correction.

    • Resistances levels are at: Y110.95, Y111.65, Y112.20

    • Support levels are at: Y110.20, Y109.95, Y109.40

    Probably, the main scenario - is the continuation of the upward movement to Y110.95 (Mar 31 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to Y108.45 (Mar 24 low).

  • 12:36

    USD/CHF is trading near July 2020 highs

    Yesterday the USD/CHF was trading higher and closed the day in positive territory around the Chf0.9440. Today it was trading in a narrow range of Chf0.9435-50, staying near the highs of July 2020. On the hourly chart, USD/CHF is still trading above the moving average MA (200) H1 (Chf0.9365). 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/CHF remains above MA 200 H1, it may be necessary to look for buy entry points for the formation of a correction.

    • Resistances levels are at: Chf0.9465, Chf0.9495, Chf0.9530

    • Support levels are at: Chf0.9405, Chf0.9370-80, Chf0.9350

    Probably, the main scenario - is a further advance towards Chf0.9465 (Jul 17 high 2020). Alternative scenario - may be final consolidation below MA 200 H1, followed by a decline towards Chf0.9240 (Mar 23 low).

  • 12:15

    The GBP/USD is testing the MA 200 H1 resistance

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.3780. Today it was trading in a narrow range of $1.3775-90, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing resistance - the MA (200) H1 ($1.3770) moving average line. 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 GBP/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: $1.3845, $1.3875, $1.3955

    • Support levels are at: $1.3705-15, $1.3670, $1.3650

    Probably, the main scenario - is the continuation of the fall to $1.3715 (Mar 31 low). An alternative scenario - may be consolidation above the MA 200 H1 level with a subsequent rise to $1.3955 (Mar 19 high).

  • 12:01

    EUR/USD remains below MA 200 H1

    Yesterday the EUR/USD traded in different directions in the range of $1.1705-60 and closed the day without significant changes. It was also trading in a narrow range of $1.1720-30 today, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.1805). 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 EUR/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: $1.1760, $1.1790-00, $1.1825

    • Support levels are at: $1.1705, $1.1600, $1.1500

    Probably, the main scenario - is the continuation of the decline to $1.1705 (Mar 31 low). An alternative scenario - may be consolidation above the MA 200 H1, with a subsequent rise to $1.1945 (Mar 22 high).

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