AUDCAD
The AUD/CAD pair is currently trading around 0.93783 CAD, approaching a strong resistance zone between 0.93714 and 0.93783. This area could act as a critical barrier unless broken with strong bullish momentum. Key support levels are observed at 0.93020, which coincides with the Supertrend uptrend support, followed by 0.92639 and 0.91837. The Supertrend indicator is currently bullish, suggesting the possibility of further upward movement if support holds. However, the RSI is nearing the overbought region at 69.22, indicating that a potential reversal or consolidation could occur if buying pressure weakens. If the pair successfully breaks and holds above 0.93783, it could target the 0.94000 zone, confirming a continuation of the bullish trend. Conversely, a rejection at this resistance may lead to a pullback toward 0.93020 or even lower, with 0.92639 and 0.91837 as further downside targets. In case of a consolidation phase, the price might oscillate between 0.93783 and 0.93020 before a decisive breakout. Traders are advised to wait for a confirmed breakout above 0.93783 for long positions or consider short opportunities if there is a clear rejection from the resistance zone.
EURCHF
The EUR/CHF pair is currently trading around 0.94776 CHF, situated near a minor resistance zone between 0.94685 and 0.94800, where the Supertrend downtrend indicator is providing overhead resistance. A clear break above this level is essential for a shift in short-term bullish sentiment. Further resistance lies in the broader zone between 0.95400 and 0.95700, which has been a strong barrier in the past. On the downside, support is seen at 0.94082, aligned with the Supertrend uptrend support level, while a stronger demand zone is located between 0.92770 and 0.92450. The Supertrend readings are providing mixed signals, indicating indecision, which is further confirmed by the RSI hovering around the neutral level at 49.07. This suggests the pair could continue consolidating unless a clear breakout or breakdown occurs. If the pair successfully breaks above 0.94800, it may aim for the 0.95400 – 0.95700 range, signaling a bullish shift. Conversely, a failure to hold above 0.94685 could lead to a pullback towards 0.94082, and potentially the broader support zone below. Traders should monitor for a decisive breakout above 0.94800 to consider long positions or look for short opportunities if a rejection occurs at the current resistance levels.
GBPJPY
The GBP/JPY pair is trading around 193.160 JPY and is currently approaching a critical resistance zone between 193.951 and 194.500, indicated by the Supertrend downtrend, suggesting potential selling pressure at these levels. A clear break above this resistance could pave the way for further gains towards the major resistance at 199.325, signaling a strong bullish trend reversal. On the downside, immediate support is seen at 192.175, aligning with the Supertrend uptrend. If this support fails, the price could drop to the broader demand zone between 184.000 and 182.000. The RSI is at 58.10, showing mild bullish momentum but not yet overbought, implying room for potential upside if resistance is broken. Given the conflicting Supertrend signals and moderate RSI, the pair might consolidate between 193.951 and 192.175 before a decisive move. Traders should watch for a breakout above 193.951 to confirm a bullish bias or a rejection to target the lower support levels.
USDJPY
The chart of the USD/JPY currency pair illustrates recent market movements and significant indicators. The price action shows a notable bounce towards 144.334 after prior declines, with strong support identified around 141.638 that has been tested multiple times. The resistance zone, highlighted around the 150.00 level, serves as a significant barrier. The Supertrend indicator shows oscillations with current price hovering near the downtrend level at 144.797 and the uptrend at 143.381, reflecting potential volatility and consolidation. The Relative Strength Index (RSI) is currently at 57.13, indicating a neutral stance with a slight bullish bias as it is above the midline. The trading volume stands at 6.749k, suggesting considerable trading activity. In summary, the USD/JPY pair is navigating through key support and resistance levels with neutral to slightly bullish sentiment while volume indicators show significant engagement near these price points. Potential strategies include considering buying near support with a target towards resistance, or a range-bound approach amid consolidation signals.
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