Technical analysis

Technical analysis

12 April 2021
  • 20:16

    NZD / USD tests MA (200) H1

    Today, since the beginning of trading, the NZD/USD pair declined from $0.7040 to $0.7015, but soon rose to $0.7050. The pair is testing the MA (200) H1 ($0.7025) moving average line, but on the four-hour chart it is trading well below MA (200) H4 ($1.7130). Technically speaking, the $0.7070 resistance may keep the pair from rising further. If it breaks through, prices may rise to $0.7100. The lower bound of $0.6995 represents the main support level. The most likely range of price movement for today may be hidden within the range of $0.6995-0.7070.


    Resistance levels are: $0.7070, $0.7100, $0.7185

    Support levels are: $0.7015-25, $0.6995, $0.6940


    The main scenario for the pair's promotion - correction and may be a decline to $0.6995 (April 7 low)

    An alternative scenario - growth to $0.7070 (April 5-7 high) and then, maybe, to $0.7100 (March 5-9 low)


  • 20:06

    USD / JPY remains below MA (200) H1

    Today, the USD/JPY pair is trading with a decline from Y109. 75 to Y109. 20, having returned most of the positions gained on Friday. On the hourly chart, the pair fell below the moving average line of MA (200) H1 (Y110. 10), but on the four-hour chart it remains above MA (200) H4 (Y108.80). Technically speaking, the resistance of Y109.95 kept the pair from rising. If it breaks through, prices may rise to Y110. 55. The lower limit of Y109. 00 is the main support level. The most likely range of price movement for today may be hidden within the range of Y109. 00-95.

    Resistance levels are: Y109.95-110.10, Y110.55, Y110.95

    Support levels are: Y109.00, Y108.70, Y108.40


    The main scenario for the pair's promotion - decline to Y109. 00 (April 8 low) and then maybe to Y108. 70 (March 25 low)

    An alternative scenario - correction and may be an increase to Y109. 95-110. 10 (April 7 and 9 high, MA (200) H1)


  • 19:51

    USD / CHF is trading near a three-week low

    Today, the USD/CHF pair is trading mainly with a decline from Chf0. 9270 to Chf0.9230 - near a three-week low. On the hourly chart, the pair is fixed below the moving average line of MA (200) H1 (Chf0. 9350), and on the four-hour chart, it is trading slightly below MA (200) H4 (Chf0.9285). In this situation, it is probably worth sticking to the southern direction in trading, and maybe you should look for an exit point for selling.


    Resistance levels are: Chf0.9280, Chf0.9315, Chf0.9350

    Support levels are: Chf0.9210-20, Chf0.9180, Chf0.9135


    The main scenario for the pair's promotion - breakout of support for Chf0. 9210-20 (March 17-18 and 22 lows) and may be a decline to Chf0. 9180 (March 4 low)

    An alternative scenario - breakout of the resistance of Chf0. 9280 (April 9 high) and may be an increase to Chf0.9315 (April 7 high)


  • 19:28

    GBP / USD rose, but remains below MA (200) H1

    Today, the GBP / USD pair is trading in different directions: after falling from $1.3720 to a two-week low of $1.3670, the pair rose again to $1.3770. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.3795), and on the four - hour chart-below MA (200) H4 ($1.3860). Technically speaking, the support of $1.3670 kept the pair from falling further. The upper limit of $1.3780-95 represents the resistance level. The most likely range of price movement for today may be hidden within the range of $1.3670-1.3795



    Resistance levels are: $1.3780-95,  $1.3840, $1.3920

    Support levels are: $1.3720, $1.3670, $1.3610


    The main scenario for the pair's promotion -  correction, and decline to the session low of $1.3670 (March 25, April 8 low, session low)

    An alternative scenario - growth to $1.3780-95 (April 8 high, MA (200) H1) and then maybe to $1.3840 (April 7 high)


  • 19:15

    EUR / USD is trading near a three-week high

    Today, the EUR / USD pair is trading in the range of $1.1870-1.1920, after rising last week to a three-week high ($1.1925). On the hourly chart, the pair is trading above the moving average line MA (200) H1 ($1.1820), but on the four-hour chart it is testing MA (200) H4 ($1.1905). Technically speaking, the resistance of $1.1925 may keep the pair from rising further. If it breaks through, prices may rise to $1.1990. The lower bound of $1.1860 represents the resistance level. The most likely range of price movement for today may be hidden within the range of $1.1860-1.1925

    Resistance levels are: $1.1925-45, $1.1990, $1.2065

    Support levels are: $1.1860, $1.1795-1.1820, $1.1740

    The main scenario for promoting the pair  - growth to $1.1925-45 (March 22 and April 8 highs) and then, maybe to $1.1990 (March 18-19 high)

    An alternative scenario - decline to $1.1860 (April 7-8 low) and then maybe to $1.1795-1.1820 (April 6 low, MA (200) H1)


  • 14:05

    USD/CAD is trading below MA 200 H1

    On Friday, the USD/CAD was trading lower and closed the day in the red around the C$1.2525. Today it has grown slightly, rising to the level of C$1.2555. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.2570). 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$1.2610, С$1.2635-45, С$1.2680

    • Support levels are at: С$1.2505, С$1.2465-75, С$1.2420

    Probably, the main scenario - is the continuation of the decline to C$1.2500 (Apr 5 low). An alternative scenario - may be consolidation above MA (200) H1 with a subsequent rise to C$1.2645 (Mar 30 high).

  • 13:54

    AUD/USD remains below MA 200 H1

    AUD/USD traded lower on Friday and closed the day in the red around $0.7620. It also dropped slightly today, dropping to $0.7595. On the hourly chart, AUD/USD is still trading below the moving average MA (200) H1 ($0.7620). 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: $0.7660-75, $0.7700, $0.7755

    • Support levels are at: $0.7590, $0.7560, $0.7530

    Probably, the main scenario - is the continuation of the downward movement to $0.7590 (Apr 9 low). Alternative scenario - may be consolidation above MA 200 H1 with subsequent growth to $0.7700 (high of the European session on Mar 23).

  • 13:54

    Gold stays above MA 200 H1

    The XAU/USD traded lower on Friday and closed the day in the red around $1743. Today, gold was trading in a narrow range of $1736-43, staying close to Friday's close. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1724). 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 XAU/USD 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: $1758, $1775, $1788

    • Support levels are at: $1732, $1720, $1705-10

    Probably, the main scenario - is the continuation of the upward movement to $1758 (Apr 8 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $1683 (low of the American session on Mar 31).

  • 13:22

    Oil remains below MA 200 H1

    On Friday, Brent crude was traded in different directions in the range of $62.60-$63.45 and closed the day without significant changes. Oil was trading in a narrow range of $62.90-$63.45 today, staying close to Friday's close. 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: $64.25, $65.25-75, $68.20

    • Support levels are at: $61.20-55, $60.20, $59.10

    Probably, the main scenario - is a subsequent decline to $61.55 (Apr 7 low). An alternative scenario - may be consolidation above MA 200 H1 with subsequent growth to $65.75 (high of the American session on Mar 18).

  • 13:04

    USD/JPY remains below MA 200 H1

    On Friday, the USD/JPY was trading higher and closed the day in positive territory around the Y109.65. Today it was trading in a narrow range of Y109.45-75, staying close to Friday's close. On the hourly chart, USD/JPY is still trading below the moving average MA (200) H1 (Y110.15). On the four-hour chart, it remains above 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 USD/JPY 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: Y109.95, Y110.55, Y110.85-95

    • Support levels are at: Y109.00, Y108.65, Y108.40-45

    Probably, the main scenario - is the continuation of the downward movement to Y109.00 (Apr 8 low). An alternative scenario - may be consolidation above MA 200 H1, followed by a rise to Y110.95 (Mar 31 high).

  • 12:36

    USD/CHF is trading near 3-week low

    On Friday, the USD/CHF traded in different directions in the range Chf0.9235-Chf0.9280 and closed the day without significant changes. It was also trading in a narrow range of Chf0.9240-60 today, staying close to a 3-week low. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.9355). 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/CHF 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: Chf0.9300, Chf0.9330, Chf0.9395

    • Support levels are at: Chf0.9225-30, Chf0.9190, Chf0.9165

    Probably, the main scenario - is a subsequent decline to Chf0.9230 (Apr 8 low). Alternative scenario - may be consolidation above MA 200 H1 level, with further advance towards Chf0.9470 (Apr 1 high).

  • 12:14

    GBP/USD remains below MA 200 H1

    Yesterday the GBP/USD was trading lower and closed the day in the red around $1.3700. It also dropped slightly today, dropping to $1.3680. On the hourly chart, GBP/USD is still trading below the MA line (200) H1 ($1.3790). 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 on the formation of a correction.

    • Resistances levels are at: $1.3745, $1.3780, $1.3835

    • Support levels are at: $1.3670, $1.3650, $1.3565

    Probably, the main scenario - is the continuation of the decline to $1.3670 (Apr 9 low). An alternative scenario - may be consolidation above the MA 200 H1 level with a subsequent rise to $1.3915 (Apr 6 high).

  • 11:57

    EUR/USD was trading near a 3-week high

    The EUR/USD traded lower on Friday and closed the day in the red around $1.1900. Today it was trading in a narrow range of $1.1885-00, staying close to a 3-week high. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.1810). 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 northern direction in trading, and while the EUR/USD 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: $1.1925, $1.1940-45, $1.1985

    • Support levels are at: $1.1860, $1.1835, $​​1.1795

    Probably, the main scenario - is continued growth to $1.1925 (Apr 8 high). An alternative scenario - may be final consolidation below the MA 200 H1, followed by a decline to $1.1705 (Mar 31 low).

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