Technical analysis

Technical analysis

05 May 2022
  • 20:04

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

    Today, the NZD/USD pair is trading mainly with a decline from $0.6570 to $0.6485, having lost some of the positions gained yesterday. On the hourly chart, the pair is testing the moving average line MA (200) H1 ($0.6510), but on the four-hour chart it remains below MA (200) H4 ($0.6775). Technically speaking, the support level of $0.6410 can keep prices from further decline. The upper limit of $0.6645 represents the resistance level.



    Resistance levels are: $0.6570-90, $0.6645, $0.6740

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


    The main scenario for the pair's promotion —  support breakout of $0.6410 (May 2-3 low) and may be a decline to $0.6385 (June 30’ 2020 low)

    An alternative scenario — the resistance breakout is $0.6570-90 (April 27 high, session maximum) and there may be an increase to $0.6645 (April 26 high)

  • 19:52

    USD/JPY is growing again and testing MA (200) H1

    Today, the USD/JPY pair is trading mainly with an increase from Y128.75 to Y129.95, having regained most of the positions lost yesterday. On the hourly chart, the pair is testing the MA (200) H1 (Y129.30) moving average line, but on the four-hour chart it remains above MA (200) H4 (Y125.60). Technically speaking, the resistance of Y131.25 can keep prices from further growth. The lower bound of 126.95 represents the support level.

     

    Resistance levels are: Y130.50, Y131.25, Y132.00

    Support levels are:  Y128.60, Y126.95, Y126.25


    The main scenario for the pair's promotion — the resistance breakthrough is Y130.50 (May 2 high) and there may be an increase to Y131.25 (April 28 high)

    An alternative scenario — there may be a decrease in the pair to Y128.60 (May 4 low)

  • 19:42

    USD/CHF pair is trading near a 2-year high

    Today, the USD/CHF pair is trading mainly with an increase from Chf0.9710 to Chf00.9800, having regained most of the positions lost yesterday. The pair remains near a 2-year high. On the hourly chart, USD/CHF remains above the moving average line of MA (200) H1 (Chf0.9705) and on the four-hour chart - above MA (200) H4 (Chf0.9445). Technically speaking, the resistance of Chf0.9850 can keep prices from rising further. The lower bound of Chf0.9670 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: Chf0.9850, Chf0.9900, Chf0.9925


    Support levels are: Chf0.9705, Chf0.9670, Chf0.9615



    The main scenario for the pair's promotion — the resistance breakout is Chf0.9850 (May 4 high) and there may be an increase to Chf0.9900 (March 20’ 2020 high)

    An alternative scenario — there may be a decrease in the pair to Chf0.9670 (April 29 low)

  • 19:13

    GBP/USD is trading near the lows of July 2020

    Today, the GBP/USD pair is trading mainly with a decline from $1.2635 to $1.2410, after rising yesterday to a weekly high. The pair is trading slightly above the lowest value since July 2020 ($1.2410). On the hourly chart, GBP/USD is testing the moving average line MA (200) H1 ($1.2570), but on the four-hour chart it remains below MA (200) H4 ($1.2955). Technically speaking, the support of $1.2410 can keep prices from further decline. The upper limit of $1.2770 represents the resistance level.


    ⦁ Resistance levels are: $1.2635, $1.2770, $1.2970

    ⦁ 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 $1.2635 (May 4 high, session high), and there may be an increase to $1.2770 (April 26 high)

  • 19:00

    EUR/USD is testing MA (200) H1

    Today, the EUR/USD pair is trading in the range of $1.0580-1.0640 - about a weekly high. On the hourly chart, the pair is testing the MA (200) H1 moving average line ($1.0580), but on the four-hour chart it remains significantly lower than MA (200) H4 ($1.0840). Technically speaking, the resistance of $1.0655 may keep prices from rising further. The lower bound of $1.0470 represents the support level



    Resistance levels are: $1.0655, $1.0740, $1.0815

    Support levels are: $1.0470, $0450, $1.0340


    The main scenario for promoting the pair  — support breakthrough of $1.0470 (April 28 low) and there may be a decline to $1.0450 (January 11’ 2017 low)


    An alternative scenario — if the resistance of $1.0655 (April 27 high) is broken, then the pair may rise to $1.0740 (April 26 high)

  • 14:18

    USD/CAD is testing MA 200 H1 support

    Yesterday the USD/CAD traded down and closed the day in the red zone near the price of C$1.2740. Today it was trading in a narrow range of C$1.2715-50, staying close to yesterday's closing price. On the hourly chart, USD/CAD is testing the strength of the support - the line of the moving average MA (200) H1 (С$1.2805). On the four-hour chart, it is still above the MA 200 H4 line. Based on the above, it is probably worth sticking to the north direction in trading, and as long as the USD/CAD remains above MA 200 H1, it may be necessary to look for entry points to buy at the end of the correction.

    • Resistances levels are at: С$1.2845-50, С$1.2915, С$1.3000

    • Support levels are at: С$1.2685, С$1.2655, С$1.2590

    Probably, the main scenario is continued growth to the level of С$1.2845 (high of the American session on May 4).

    An alternative scenario is a consolidation below the MA 200 H1 line, followed by a fall to C$1.2590 (Apr 22 low).

  • 14:02

    The AUD/USD is testing the MA 200 H1 resistance

    Yesterday the AUD/USD traded higher and closed the day in positive territory around $0.7255. Today it was trading in a narrow range of $0.7235-65, staying close to yesterday's closing price. On the hourly chart, AUD/USD is testing resistance - the moving average line MA (200) H1 ($0.7130). On the four-hour chart, it 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 AUD/USD remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.

    • Resistances levels are at: $0.7265, $0.7310, $0.7350

    • Support levels are at: $0.7115-25, $0.7080, $0.7030

    Probably, the main scenario is a possible decline to $0.7125 (low of the American session on May 4).

    An alternative scenario is fixing above MA 200 H1 with subsequent growth to $0.7350 (high of the European session on Apr 22).

  • 13:42

    Gold Tests MA 200 H1 Resistance

    Yesterday, the XAU/USD traded higher and closed the day in positive territory near the price of $1881. Today, gold also rose slightly, rising to $1903. On the hourly chart, XAU/USD is testing resistance - the moving average line MA (200) H1 ($1891). On the four-hour chart, gold 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 XAU/USD remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.

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

    • Support levels are at: $1881, $1861, $1844-50

    Probably, the main scenario is the continuation of the downward movement to $1881 (session low).

    Alternative scenario is consolidation above MA 200 H1 followed by a rise to $1958 (Apr 20 high).


  • 13:24

    Oil fixed above MA 200 H1

    Yesterday, Brent crude traded higher and closed the day in positive territory around $110.60. Today oil traded in a narrow range of $110.40-$111.50, staying close to yesterday's closing price. On the hourly chart, Brent broke through and fixed above the moving average line MA (200) H1 ($106.15). 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: $111.55, $112.85, $115.50

    • Support levels are at: $108.35, $104.90, $103.30-45

    Probably, the main scenario is a possible subsequent growth to $111.55 (session high).

    The alternative scenario is consolidation below the MA 200 H1 followed by a fall to $99.65 (Apr 25 low).

  • 13:04

    USD/JPY is testing MA 200 H1 support

    Yesterday the USD/JPY traded down and closed the day in the red zone near the price of Y129.15. Today it was trading in a narrow range of Y128.75-Y129.55, staying close to yesterday's closing price. On the hourly chart, USD/JPY is testing the strength of the support - the line of the moving average MA (200) H1 (Y129.25). On the four-hour chart, it is still above the MA 200 H4 line. Based on the above, it is probably worth sticking to the north direction in trading, and as long as the USD/JPY remains above MA 200 H1, it may be necessary to look for entry points to buy at the end of the correction.

    • Resistances levels are at: Y130.35-45, Y131.25, Y132.00

    • Support levels are at: Y128.60, Y127.80, Y126.95

    Probably, the main scenario is continued growth towards Y130.35 (May 4 high).

    Alternative scenario is consolidation below MA 200 H1, followed by a decline to Y126.95 (Apr 27 low).

  • 12:43

    USD/CHF remains above MA 200 H1

    Yesterday the USD/CHF traded lower and closed the day in the red zone near the price of Chf0.9725. Today it was trading in a narrow range of Chf0.9710-45, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading above the moving average line MA (200) H1 (Chf0.9695). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading, and as long as the USD/CHF remains above MA 200 H1, it may be necessary to look for entry points to buy at the end of the correction.

    • Resistances levels are at: Chf0.9850, Chf0.9900, Chf1.0000

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

    Probably, the main scenario is a likely continuation of growth towards Chf0.9850 (May 4 high).

    Alternative scenario is consolidation below MA 200 H1, followed by a decline to Chf0.9530 (Apr 22 low).

  • 12:19

    The GBP/USD is testing the MA 200 H1 resistance

    Yesterday the GBP/USD traded higher and closed the day in positive territory near the price of $1.2630. Today, it, on the contrary, fell a little, dropping to the level of $1.2775. On the hourly chart, the GBP/USD is testing resistance - the moving average line MA (200) H1 ($1.2580). On the four-hour chart, it 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 GBP/USD remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.

    • Resistances levels are at: $1.2635, $1.2595, $1.2770

    • Support levels are at: $1.2450, $1.2410, $1.2300

    Probably, the main scenario is continuation of the recent decline towards $1.2450 (May 4 low).

    An alternative scenario is fixing above the MA 200 H1 level, followed by a rise to $1.3030 (Apr 22 high).

  • 12:02

    The EUR/USD is testing the MA 200 H1 resistance

    Yesterday the EUR/USD traded higher and closed the day in positive territory near the price of $1.0620. Today it was trading in a narrow range of $1.0605-40, staying close to yesterday's closing price. On the hourly chart, EUR/USD is testing resistance - the moving average line MA (200) H1 ($1.0590). On the four-hour chart, it 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 at the end of the correction.

    • Resistances levels are at: $1.0655, $1.0695, $1.0740-55

    • Support levels are at: $1.0505-10, $1.0470, $1.0400

    Probably, the main scenario is the continued decline to $1.0510 (low of the American session on May 4).

    Alternative scenario is consolidation above MA 200 H1, followed by a rise to $1.0850 (Apr 22 high).

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