Technical analysis

Today, the NZD/USD pair is trading in the range of $0.6410-80 - near the lows of the beginning of July 2020. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($0.6570) 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 $0.6540 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: $0.6480, $0.6540, $0.6590

⦁ Support levels are: $0.6410, $0.6385, $0.6260

The main scenario for the pair's promotion —  breakout of the session low of $0.6410 and there may be a decline to $0.6385 (June 30’ 2020 low)

An alternative scenario — resistance breakout of $0.6480 (May 2 high, session high) and then maybe a rise to $0.65 40 (April 29 high)

Today, the USD/JPY pair is trading in the range of Y129.90-130.30, 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 (Y129.00), and on the four-hour chart it remains above MA (200) H4 (Y124.95). 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:  Y129.00-30, Y128.30, Y126.95

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

An alternative scenario — support breakout is Y129.00-30 (April 29 low, MA (200) H1) and there may be a decline to Y128.30 (April 28 low)

Today, the USD/CHF pair is trading in the range of Chf0.9760-95 - about a 2-year high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Chf0.9645) and on the four-hour chart - above MA (200) H4 (Chf0.9420). Technically speaking, the resistance of Chf0.9800 can keep prices from rising further. The lower bound of Chf0.9645-70 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: Chf0.9800, Chf0.9845, Chf0.9900

⦁ Support levels are:  Chf0.9715, Chf0.9645-70, Chf0.9610

The main scenario for the pair's promotion — resistance breakout is Chf0.9800 (April 24’ 2020 high) and there may be an increase to Chf0.9845 (May 24’ 2020 high)

An alternative scenario — support breakout is Chf0.9715 (May 2 low) and there may be a decline to Chf0.9645-70 (April 29 low, MA (200) H1)

Today, the GBP/USD pair is trading in the range of $1.2485-1.2555 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 ($1.2675) and on the four-hour chart - below MA (200) H4 ($1.2995). 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, $1.2675, $1.2770

⦁ 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 MA (200) H1 ($1.2675)

Today, the EUR/USD pair is trading in the range of $1.0490-1.530 and remains near the lows of January 2017. On the hourly chart, the pair remains below the moving average line of MA (200) H1 ($1.0645) and on the four-hour chart - significantly below MA (200) H4 ($1.0870). Technically speaking, the support of $1.0450-70 can keep prices from falling. The upper limit of $1.0645-55 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, $1.0645-55, $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 $1.0645-55 (April 27, MA (200) H1 high)

Yesterday the USD/CAD traded higher and closed the day in positive territory near the price of C$1.2875. Today it fell a little, dropping to C$1.2835. On the hourly chart, USD/CAD is still trading above the MA (200) H1 moving average line (С$1.2745). 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$1.2915, 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$1.2915 (May 2 high).

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

Yesterday the AUD/USD traded in different directions in the range of $0.7030-80 and closed the day without significant changes. Today it has grown, having risen to the level of $0.7145. However, on the hourly chart, AUD/USD is still trading below the MA (200) H1 moving average line ($0.7190). 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: $0.7030, $0.6965-75, $0.6900

Probably, the main scenario is a possible decline to $0.7030 (May 2 low).

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

Yesterday, the XAU/USD traded lower and closed the day in the red near the price of $1863. Today, gold traded in a tight range of $1859-66, staying near an 11-week low. On the hourly chart, XAU/USD is still trading below the MA line (200) H1 ($1909). 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: $1887, $1919, $1946

• Support levels are at: $1855, $1844, $1825

Probably, the main scenario is to move forward is a continuation of the downward movement towards $1855 (May 2 low).

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

Yesterday, Brent crude traded higher and closed the day in positive territory around $107.85. Today oil traded in a narrow range of $107.35-$108.60, staying close to yesterday's closing price. On the hourly chart, Brent is testing resistance - the moving average line MA (200) H1 ($106.25). On the four-hour chart, oil is still below the MA 200 H4 line. Based on the foregoing, 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 for selling to form a correction.

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

• Support levels are at: $103.30-45, $101.35, $99.00-65

Probably, the main scenario is a possible further decline to $103.45 (May 2 low).

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

Yesterday the USD/JPY traded in different directions in the range Y129.60-Y130.50 and closed the day without significant changes. Today it fell a little, dropping to Y129.85. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (Y128.85). 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: Y130.50, Y131.25, Y132.00

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

Probably, the main scenario is continued growth towards Y130.50 (May 2 high).

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

Yesterday the USD/CHF traded higher and closed the day in positive territory near the price of Chf0.9770. Today it was trading in a narrow range of Chf0.9765-85, staying close to the April 2020 highs. On the hourly chart, USD/CHF is still trading above the moving average line MA (200) H1 (Chf0.9635). 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: Chf0.9790-00, Chf0.9900, Chf1.0000

• Support levels are at: Chf0.9715, Chf0.9670, Chf0.9635

Probably, the main scenario is a likely continuation of growth towards Chf0.9790 (May 2 high).

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

Yesterday the GBP/USD traded lower and closed the day in the red zone near the price of $1.2490. Today it rose a little, having risen to the level of $1.2530. On the hourly chart, the GBP/USD is still trading below the MA (200) H1 moving average line ($1.2700). 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 consolidation above the MA 200 H1 level, followed by a rise to $1.3090 (Apr 21 high).

Yesterday the EUR/USD was trading lower and closed the day in the red zone near the price of $1.0505. Today, it was trading in a narrow range of $1.0505-25, staying close to the lows of January 2017. On the hourly chart, EUR/USD is still trading below the moving average line MA (200) H1 ($1.0660). On the four-hour chart, the EUR/USD is still below the MA 200 H4 line. 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).