Technical analysis

Technical analysis

02 April 2021
  • 13:57

    USD/CAD is trading below MA 200 H1 again

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2540. It also dropped slightly today, dropping to C$1.2525. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.2580). 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 USD/CAD 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: С$1.2600, С$1.2625, С$1.2645

    • Support levels are at: C$1.2520, C$1.2465-75, C$1.2420

    Probably, the main scenario - is a continuation of the decline to C$1.2520 (Mar 23 low). An alternative scenario - may be consolidation above MA (200) H1, followed by growth to C$1.2680 (Mar 10 high).

  • 13:16

    The AUD/USD is testing the MA 200 H1 resistance

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7615. Today it has also increased slightly, rising to the level of $0.7635. On the hourly chart, AUD/USD is testing resistance - the MA (200) H1 ($0.7620) moving average line. On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the above, 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 a sell entry point at the end of the correction.

    • Resistances levels are at: $0.7660, $0.7700, $0.7755

    • Support levels are at: $0.7560, $0.7530, $0.7460

    Probably, the main scenario - is the continuation of the downward movement to $0.7560 (low of the American session on Apr 1). Alternative scenario - may be consolidation above MA 200 H1 with subsequent growth to $0.7755 (Mar 22 high).

  • 13:03

    USD/JPY is trading near March 2020 highs

    Yesterday the USD/JPY traded in different directions in the Y110.55-Y110.85 range and closed the day without significant changes. Today it was trading in a narrow range of Y110.50-65, staying near the highs of March 2020. On the hourly chart, USD/JPY is still trading above the MA line (200) H1 (Y109.65). 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: 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).

  • 12:47

    USD/CHF remains above MA 200 H1

    The USD/CHF was trading lower yesterday and closed the day in the red around the Chf0.9415. Today it was trading in a narrow range of Chf0.9415-20, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading above the MA line (200) H1 (Chf0.9380). 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: Chf0.9470, Chf0.9495, Chf0.9530

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

    Probably, the main scenario - is a further rise to Chf0.9470 (Apr 1 high). Alternative scenario - may be final consolidation below MA 200 H1, followed by a decline towards Chf0.9240 (Mar 23 low).

  • 12:19

    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 $1.3830. Today it was trading in a narrow range of $1.3830-50, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing resistance - the MA (200) H1 ($1.3765) moving average line. 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 the GBP/USD 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: $1.3875, $1.3955, $1.4000-15

    • Support levels are at: $1.3745-60, $1.3705-15, $1.3670

    Probably, the main scenario - is the continuation of the fall to $1.3760 (low of the American session on Apr 1). An alternative scenario - may be final consolidation above the MA 200 H1 level with a subsequent rise to $1.3955 (Mar 19 high).

  • 11:57

    EUR/USD remains below MA 200 H1

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.1770. Today it was trading in a narrow range of $1.1770-80, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading below the MA line (200) H1 ($1.1790). 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 the EUR/USD 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: $1.1790-00, $1.1825, $1.1850

    • Support levels are at: $1.1705-15, $1.1600, $1.1500

    Probably, the main scenario - is the continuation of the decline to $1.1715 (Apr 1 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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