Technical analysis

Technical analysis

12 October 2021
  • 20:06

    NZD/USD is testing MA (200) H1

    Today, the NZD/USD pair is trading mainly with growth in the range of $0.6925-70 and is testing the MA (200) H1 moving average line ($0.6930) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 ($0.7020). Technically speaking, the resistance of $0.6980 may keep prices from rising further. The lower bound of $0.6910 represents the support level. The most probable range of the pair's movement for today may be hidden within the existing range of $0.6910-80.


    Resistance levels are: $0.6980, $0.7035, $0.7090

    Support levels are:  $0.6910, $0.6860-75, $0.6805


    The main scenario for the pair's promotion — correction, and there may be a decrease to $0.6910 (October 7-8 low)

    An alternative scenario — if the resistance of $0.6980 (October 4 high) is broken, then the pair can rise to $0.7035 (September 27 high)


  • 19:56

    USD/JPY is trading near the highs of December 2018

    Today, the USD/JPY pair is trading in the range Y113.00-50 - near the highs of December 2018. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y111.75) and on the four-hour chart - above MA (200) H4 (Y110.50). In this situation, the scenario of further growth of the USD/JPY pair is likely. Finding a buy position can be a wise decision for those who want to take advantage of a stronger US dollar.

    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:  Y113.50, Y113.70-80, Y114.05

    Support levels are: Y113.00, Y112.15, Y111.75


    The main scenario for the pair's promotion — breakout of the session high of Y113.50 and there may be an increase to Y113.70-80 (December 3 and 13-14’ 2018 highs)

    An alternative scenario — breakout of the session minimum of Y113.00 and there may be a decline to Y112.15 (October 11 low)

  • 19:45

    USD/CHF remains slightly below MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9255-90 and on the hourly chart remains slightly below the MA (200) H1 moving average line (CHF0.9285). On the four-hour chart, the pair is trading above MA (200) H4 (CHF0.9230). Technically speaking, the support of Chf0.9250 keeps prices from falling for now. The upper bound of Chf0.9305-10 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range of Chf0.9250-0.9310.



    Resistance levels are: Chf0.9305-10, Chf0.9340, Chf0.9370

    Support levels are: Chf0.9250, Chf0.9215-30,  Chf0.9165


    The main scenario for the pair's promotion — breakthrough of the level MA (200) H1 (Chf0.9285) and there may be an increase to Chf0.9305-10 (October 4, 6 and 8 high)

    An alternative scenario — if the support of Chf0.9250 (October 7 and 11 low) is broken, then the pair may fall to Chf0.9215-30 (September 22-24 and October 4 lows)

  • 19:25

    GBP/USD is testing MA (200) H1

    Today, the GBP/USD pair is trading in the range of $1.3570-1.3620 and is testing the MA (200) H1 ($1.3580) moving average line on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 ($1.3705). Technically speaking, the support of $1.3570 keeps prices from further decline. If it breaks through, prices may drop to $1.3530. The upper limit of $1.3675 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of $1.3570-1.3675.


    Resistance levels are: $1.3675, $1.3730-50, $1.3810

    Support levels are: $1.3570, $1.3530, $1.3410

    The main scenario for the pair's promotion — if the support of $1.3570 (October 7 low, session minimum) is broken, the pair may fall to $1.3530 (October 4 low)

    An alternative scenario — the pair may rise to $1.3675 (October 11 high)

  • 19:01

    EUR/USD remains near the lows of the end of July 2020

    Today, the EUR/USD pair is trading in the range of $1.1550-80 - slightly above the low of the end of July 2020 ($1.1530) reached last week. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.1590) and on the four-hour chart - below MA (200) H4 ($1.1735). Technically speaking, the support of $1.1530 can keep prices from further decline. If it breaks through, prices may drop to $1.1505. The upper limit of $1.1590 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range of $1.1530-90.


    Resistance levels are: $1.1580-90, $1.1640, $1.1705

    Support levels are: $1.1530, $1.1505, $1.1425

     

    The main scenario for promoting the pair  — it is possible to decline to $1.1530 (October 6 low) and then, maybe, to $1.1505 (July 22’ 2020 low)

    An alternative scenario — if the resistance of $1.1580-90 (October 8-11 high, MA (200) H1) is broken, then the pair may rise to $1.1640 (October 4-5 highs)


  • 14:15

    USD/CAD is trading near 11-week low

    Yesterday the USD/CAD traded in different directions in the range of С$1.2445-С$1.2485 and closed the day without significant changes. Today it also traded in a narrow range of C$1.2475-00, staying close to the 11-week low. On the hourly chart, USD/CAD is still trading below the MA line (200) H1 (C$1.2600). 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 a sell entry point for the formation of a correction.

    • Resistances levels are at: С$1.2560, С$1.2600, С$1.2645-55

    • Support levels are at: C$1.2450, C$1.2425, C$1.2300

    Probably, the main scenario is a continuation of the decline to C$1.2445 (Oct 11 low). An alternative scenario is consolidation above MA (200) H1 with a subsequent rise to C$1.2845 (Sep 21 high).

  • 13:52

    AUD/USD remains above MA 200 H1

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7345. Today it was trading in a narrow range of $0.7335-50, staying close to yesterday's closing price. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7275). 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 AUD/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $0.7370-75, $0.7405, $0.7465-75

    • Support levels are at: $0.7290, $0.7270, $0.7225

    Probably, the main scenario is an upward movement to $0.7370 (Oct 11 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7170 (Sep 29 low).

  • 13:46

    Gold continues to test resistance MA 200 H1

    Yesterday the XAU/USD traded in different directions in the range of $1750-$1760 and closed the day without significant changes. Gold is up slightly today, rising to $1759. On the hourly chart, XAU/USD is testing resistance - the MA (200) H1 moving average line ($1754). On the four-hour chart, gold remains below 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 XAU/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: $1781, $1787, $1796

    • Support levels are at: $1745, $1735, $1722

    Probably, the main scenario is a downtrend to $1745 (Oct 6 low). An alternative scenario is a final consolidation above the MA 200 H1 with a subsequent rise to $1808 (Sep 14 high).

  • 13:19

    Oil trades around October 2018 highs

    Yesterday, Brent crude was trading higher and closed the day in positive territory around $84.00. Crude oil traded in a narrow range of $83.50-10 today, staying near the October 2018 highs. On the hourly chart, Brent is still trading above the moving average MA (200) H1 ($81.20). 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 Brent 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: $85.00, $86.00, $87.00

    • Support levels are at: $82.45, $79.35-60, $76.90-25

    Probably, the main scenario is a subsequent rise to $85.00 (Oct 11 high). An alternative scenario is consolidation below MA 200 H1 with a subsequent decline to $75.70 (Sep 23 low).

  • 13:05

    USD/JPY is trading near December 2018 highs

    Yesterday, the USD/JPY was trading higher and closed the day in positive territory around the Y113.30. Today it was trading in a narrow range of Y113.20-45, staying near the highs of December 2018. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y111.65). 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: Y113.45, Y114.00, Y115.00

    • Support levels are at: Y112.85, Y112.20, Y111.50

    Probably, the main scenario is the continuation of the upward movement to Y113.45 (session high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y109.75 (Sep 23 low).

  • 12:43

    USD/CHF continues to test support for MA 200 H1

    Yesterday the USD/CHF traded in different directions in the range of Chf0.9250-85 and closed the day without significant changes. Today it was trading in a narrow range of Chf0.9275-80, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.9290) moving average line. On the four-hour chart, it remains above the MA 200 H4 line for now. 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: Chf0.9305-10, Chf0.9335, Chf0.9365

    • Support levels are at: Chf0.9255, Chf0.9225-30, Chf0.9195

    Probably, the main scenario is a further advance towards Chf0.9305 (Oct 6 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline towards Chf0.9130 (Sep 7 low).

  • 12:29

    The GBP/USD continues to test the MA 200 H1 resistance

    The GBP/USD was trading lower yesterday and closed the day in the red around $1.3595. Today it was trading in a narrow range of $1.3580-00, staying close to yesterday's closing price. On the hourly chart, GBP/USD continues to test the resistance - the moving average MA (200) H1 ($1.3570). 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 a sell entry point at the end of the correction.

    • Resistances levels are at: $1.3670, $1.3715, $1.3750-65

    • Support levels are at: $1.3530-45, $1.3415-35, $1.3305

    Probably, the main scenario is a continuation of the decline to $1.3545 (Oct 6 low). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3810 (Sep 17 high).

  • 12:04

    EUR/USD remains below MA 200 H1

    Yesterday the EUR/USD was trading lower and closed the day in the red around the $1.1553. Today it was trading in a narrow range of $1.1545-60, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading below the MA line (200) H1 ($1.1580). 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 a sell entry point for the formation of a correction.

    • Resistances levels are at: $1.1585, $1.1610, $1.1640

    • Support levels are at: $1.1530, $1.1505, $1.1425

    Probably, the main scenario is a continuation of the decline to $1.1530 (Oct 6 low). An alternative scenario is a final consolidation above the MA 200 H1, followed by a rise to $1.1750 (Sep 23 high).

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