Technical analysis

Technical analysis

02 May 2022
  • 19:53

    NZD/USD is trading near the lows of the beginning of July 2020

    Today, the NZD/USD pair is trading in the range of $0.6420-75 - near the lows of the beginning of July 2020. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($0.6610) and on the four-hour chart - below MA (200) H4 ($0.6815). Technically speaking, the support level of $0.6385 can keep prices from further decline. The upper limit of $0.6645 represents the resistance level.

    It is worth noting that the 14-day relative strength index (RSI (14) on D1) is below the level of 30, which signals a possible change in the direction of price movement.


    Resistance levels are: $0.6540, $0.6590-0.6610, $0.6645

    Support levels are: $0.6420, $0.6385, $0.6260


    The main scenario for the pair's promotion —  breakout of the session low of $0.6420 and there may be a decline to $0.6385 (June 30’ 2020 low)

    An alternative scenario — the pair's growth to $0.6540 (April 29 high) and then, maybe, to $0.6590-0.6610 (April 27 high, MA (200) H1)


  • 19:41

    USD/JPY remains near a 20-year high

    Today, the USD/JPY pair is trading in the range of Y129.65-130.50 after reaching a new 20-year high of Y131.25 last week. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y128.70), and on the four-hour chart it remains above MA (200) H4 (Y124.55). Technically speaking, the resistance of Y131.25 can keep prices from further growth. The lower bound of 126.95 represents the support level.

    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: Y130.50, Y131.25, Y132.00

    Support levels are:  Y129.30, Y128.30, Y126.95


    The main scenario for the pair's promotion — the breakout of the session maximum is Y130.50 and there may be an increase to Y131.25 (April 28 high)

    An alternative scenario — support breakout is Y129.30 (April 29 low) and there may be a decline to Y128.30 (April 28 low)

  • 19:34

    USD/CHF is trading near the highs of May 2020

    Today, the USD/CHF pair is trading in the range of Chf0.9715-50 - near the highs of May 2020. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Chf0.9610) and on the four-hour chart - above MA (200) H4 (Chf0.9410). Technically speaking, the resistance of Chf0.9760 can keep prices from rising further. The lower bound of Chf0.9610 represents the support level.

    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: Chf0.9760, Chf0.9785, Chf0.9800


    Support levels are:  Chf0.9670, Chf0.9610, Chf0.9550



    The main scenario for the pair's promotion — resistance breakout is Chf0.9760 (May 18’ 2020 high, April 28 high) and there may be an increase to Chf0.9785 (May 7’ 2020 high)

    An alternative scenario — support breakthrough of Chf0.9670 (April 29 low) and there may be a decline to Chf0.9610 (April 27 low, MA (200) H1)

  • 19:15

    GBP/USD remains near the lows of July 2020

    Today, the GBP/USD pair is trading in the range of $1.2540-95 after falling last week to the lowest value since July 2020 ($1.2410). On the hourly chart, the pair was fixed below the moving average line MA (200) H1 ($1.2735) and on the four-hour chart - below MA (200) H4 ($1.3010). Technically speaking, the support of $1.2410 can keep prices from further decline. The upper limit of $1.2770 represents the resistance level.

    It is worth noting that the 14-day relative strength index (RSI (14) on D1) has fallen below the level of 30, which signals a possible change in the direction of price movement.


    ⦁ Resistance levels are: $1.2615, $1.2735-70, $1.2975

    ⦁ Support levels are: $1.2410, $1.2355, $1.2255


    The main scenario for the pair's promotion — the support breakthrough is $1.2410 (April 28 low) and there may be a decline to $1.2355 (July 1’ 2020 low)


    An alternative scenario — the resistance breakout is $1.2615 (April 29 high), and there may be an increase to $1.2735-70 (April 26 high, МА (200) Н1)

  • 19:02

    EUR/USD is trading near the lows of January 2017

    Today, the EUR/USD pair is trading in the range of $1.0510-70 and remains near the lows of January 2017. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.0685) and on the four-hour chart - significantly below MA (200) H4 ($1.0890). Technically speaking, the support of $1.0450-70 can keep prices from falling. The upper limit of $1.0655-85 represents the resistance level.

    It is worth noting that the 14-day relative strength index (RSI (14) on D1) is below the level of 30, which signals a possible change in the direction of price movement.


    Resistance levels are:  $1.0595, $1.0655-85, $1.0740

    Support levels are: $1.0450-70, $0340, $1.0300


    The main scenario for promoting the pair  — the support breakthrough is $0450-70 (January 11’ 2017 low, April 28 low) and there may be a decline to $0340 (January 3’ 2017 low)

    An alternative scenario — if the resistance of $1.0595 (April 29 high) is broken, the pair may rise to $1.0655-85 (April 27, MA (200) H1 high)

  • 14:19

    USD/CAD trades near 8-week high

    On Friday, the USD/CAD traded higher and closed the day in positive territory near the price of C$1.2850. Today it was trading in a narrow range of C$1.2840-75, staying close to the 8-week high. On the hourly chart, USD/CAD is still trading above the MA (200) H1 moving average line (С$1.2705). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and while the USD/CAD remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.

    • Resistances levels are at: С$1.2880-00, С$1.3000, С$1.3100

    • Support levels are at: С$1.2795, С$1.2720, С$1.2685

    Probably, the main scenario is continued growth towards C$1.2880 (Apr 28 high).

    An alternative scenario is a consolidation below the MA 200 H1 line, followed by a fall to C$1.2460 (Apr 21 low).

  • 14:07

    AUD/USD continues Friday's decline

    On Friday, the AUD/USD traded lower and closed the day in the red around $0.7060. Today, it also fell slightly, dropping to $0.7035. On the hourly chart, AUD/USD is still trading below the MA (200) H1 moving average line ($0.7230). 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 for the formation of a correction.

    • Resistances levels are at: $0.7180-90, $0.7230-45, $0.7310

    • Support levels are at: $0.7035, $0.6965-75, $0.6900

    Probably, the main scenario is a possible decline to $0.7035 (session low).

    An alternative scenario is a consolidation above the MA 200 H1 followed by a rise to $0.7455 (Apr 21 high).

  • 13:38

    Gold continues Friday's decline

    On Friday, the XAU/USD was trading lower and closed the day near the price of $1896. Today, gold also fell slightly, dropping to $1884. On the hourly chart, XAU/USD is still trading below the MA line (200) H1 ($1919). 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 for the formation of a correction.

    • Resistances levels are at: $1919, $1946, $1955-58

    • Support levels are at: $1867-72, $1844-51, $1825

    Probably, the main scenario is a continuation of the downward movement to $1872 (Apr 28 low).

    Alternative scenario is consolidation above MA 200 H1 followed by a rise to $1998 (Apr 18 high).

  • 13:13

    Oil remains below MA 200 H1

    On Friday, Brent oil traded in different directions in the range of $106.50-$110.35 and closed the day without significant changes. Today oil also traded in a narrow range of $105.95-$107.35, staying close to Friday's closing price. On the hourly chart, Brent is still trading below the moving average MA (200) H1 ($106.90). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as Brent remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.

    • Resistances levels are at: $110.35, $112.85, $115.50

    • Support levels are at: $103.30-$104.25, $101.35, $99.00-65

    Probably, the main scenario is a subsequent decline to $104.25 (low of the American session on Apr 28).

    The alternative scenario is fixing above MA 200 H1 with further growth to $112.85 (high of the American session on Apr 19).

  • 12:55

    USD/JPY remains above MA 200 H1

    On Friday, the USD/JPY traded lower and closed the day in the red near the price of Y129.90. Today it was trading in a narrow range of Y129.60-Y130.35, staying close to Friday's closing price. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (Y128.65). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and while the USD/JPY remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.

    • Resistances levels are at: Y131.25, Y132.00, Y133.00

    • Support levels are at: Y129.30, Y128.35, Y127.80

    Probably, the main scenario is continued growth towards Y131.25 (Apr 28 high).

    Alternative scenario is consolidation below MA 200 H1, followed by decline to Y126.25 (Apr 18 low).

  • 12:42

    USD/CHF is trading near May 2020 highs

    On Friday, the USD/CHF traded in different directions in the range of Chf0.9670-Chf0.9735 and closed the day without significant changes. Today it was trading in a narrow range of Chf0.9715-50, staying close to the May 2020 highs. On the hourly chart, USD/CHF is still trading above the moving average line MA (200) H1 (Chf0.9600). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and while the USD/CHF remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.

    • Resistances levels are at: Chf0.9760, Chf0.9800, Chf0.9900

    • Support levels are at: Chf0.9670, Chf0.9635, Chf0.9565

    Probably, the main scenario is a likely continuation of growth towards Chf0.9760 (Apr 28 high).

    Alternative scenario is consolidation below MA 200 H1, followed by a decline to Chf0.9435 (Apr 19 low).

  • 12:18

    GBP/USD remains below MA 200 H1

    On Friday, the GBP/USD traded higher and closed the day in positive territory around $1.2575. Today it was trading in a narrow range of $1.2550-95, staying close to Friday's closing price. On the hourly chart, GBP/USD is still trading below the MA (200) H1 moving average line ($1.2770). 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 GBP/USD remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.

    • Resistances levels are at: $1.2615, $1.2695, $1.2770

    • Support levels are at: $1.2465, $1.2410, $1.2300

    Probably, the main scenario is continuation of the recent decline towards $1.2465 (Apr 29 low).

    The alternative scenario is fixing above the MA 200 H1 level, followed by a rise to $1.3090 (Apr 21 high).

  • 11:57

    The EUR/USD is trading near the lows of January 2017

    On Friday, the EUR/USD traded higher and closed the day in positive territory around $1.0545. Today, it was trading in a narrow range of $1.0515-50, staying close to the lows of January 2017. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.0695). 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 for the formation of a correction.

    • Resistances levels are at: $1.0590, $1.0655, $1.0695

    • Support levels are at: $1.0470, $1.0400, $1.0300

    Probably, the main scenario is continued decline towards $1.0470 (Apr 28 low).

    Alternative scenario is consolidation above MA 200 H1, followed by a rise to $1.0935 (Apr 21 high).

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