Technical Analysis

The NZD/USD pair is trading in the 0.5940-75 range today, after hitting a new 3-week high of 0.5990 on Friday. On the hourly chart, the pair moved above the MA (200) H1 moving average line (0.5930), and on the four-hour chart, slightly above the MA (200) H4 (0.5940). Technically speaking, the 0.5990 resistance level may keep prices from rising further. The lower boundary of 0.5890 represents a strong support level.

• Resistances are at the marks: 0.5990, 0.6015, 0.6120

• An alternative scenario: 0.5920-30, 0.5890, 0.5860

The main scenario of the pair suggests a break of resistance at 0.5990 (Sept 22 high) and a possible rise to 0.6015 (Sept 1 high)

Alternative scenario implies support at 0.5920-30 (Sept 22 high, MA (200) H1) and a decline to 0.5890 (Sep 15-18 high).

The USD/JPY pair is mostly rising from 148.30 to 148.70 today, reaching a new 11-month high. On the hourly chart, the pair rose above the moving average line H1 MA (200) H1 (147.80) and on the four-hour chart above the H4 MA (200) H4 (146.45). Technically speaking, resistance at 148.95 may keep prices from rising further. If this level is passed, the pair could rise to 149.60. The lower boundary of 147.00 represents a support level.

⦁ Resistance levels are: 148.95, 149.60, 152.00

⦁ Support levels are: 147.80, 147.30, 147.00

The main scenario for the pair suggests a break of resistance at 148.95 (October 31’ 2022 high) and may be a rise to 149.60 (October 24’ 2022 high)

The alternative scenario implies a break of 147.30 (Sept 21 low) and there could be a decline to 147.00 (Sept 14 low).

The USD/CHF pair is mostly rising in the 0.9065-0.9110 range today, reaching a more than 3-month high. The pair broke through 0.9080 resistance, which was the nearest support. On the hourly chart, the pair moved above the moving average line of MA (200) H1(0.8985) and on the four-hour chart above the MA (200) H4 (0.8870). Technically speaking, resistance at 0.9110-20 may keep prices from rising further. If this level is passed, the pair could rise to 0.9150. The lower boundary of 0.9040 represents a support level.

⦁ Resistance levels are: 0.9110-20, 0.9150, 0.9195

⦁ Support levels are: 0.9080, 0.9040, 0.8985

The main scenario for the pair implies a break of resistance at 0.9110-20 (June 5, 7-8 and 12 highs, session high) and there could be a rise to 0.9150 (May 31 high).

The alternative scenario implies a break of 0.9080 support (Sept 21 high) and could be a decline to 0.9040 (Sept 22 low)

Today, the GBP / USD pair is trading in the range of 1.2215-50, reaching a new 6-month low. On the hourly chart, the pair fell below the MA (200) H1(1.2370) moving average line. On the four-hour chart, the pair remains below the MA (200) H4 (1.2575). Technically speaking, the support level of 1.2215 may keep prices from further decline. In case it is broken, the pair may fall to 1.2165. The upper boundary of 1.2450 represents a strong resistance level.

⦁ Resistance levels are: 1.2330, 1.2425-50, 1.2510

⦁ Support levels are: 1.2215, 1.2165, 1.2100

The main scenario for the pair's advance suggests a break of the session low of 1.2215 and there could be a decline to 1.2165 (March 20 low).

The alternative scenario implies a break of resistance at 1.2330 (Sept 20 low) and there could be a rise to 1.2425-50 (Sept 15 and 19-20 highs).

Today, EUR/USD is trading in the range of 1.0625-55 - near the 6-month low of 1.0615 reached at the end of last week. On the hourly chart, the pair dipped below the MA (200) H1 (1.0680) moving average line, and on the four-hour chart, it consolidated below the MA (200) H4 (1.0800). Technically speaking, the support level of 1.0615 may keep prices from further decline. In case of its breakdown, the pair may fall to 1.0520. The upper boundary of 1.0775-80 represents a strong resistance level.

⦁ Resistance levels are: 1.0675-80, 1 0740, 1.0770

⦁ Support levels are: 1.0615, 1.0520, 1.0480

The main scenario for the pair suggests a break of support at 1.0615 (Sept 21-22 low) and there could be a decline to 1.0520 (March 15 low).

The alternative scenario implies a break of 1.0675-80 (Sept 21 high, MA (200) Н1) and may be a rise to 1.0740 (Sept 20 high).

On Friday, the USD/CAD traded in different directions in the range of 1.3425-90 and closed the day without significant changes. Today the pair was trading in a narrow range of 1.3470-90, remaining close to Friday's closing price. On the hourly chart, USD/CAD is still trading below the moving average line MA (200) H1 (1.3490). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair 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: 1.3520, 1.3550, 1.3585
• Support levels are at: 1.3425, 1.3395, 1.3375

Probably, the main scenario is a resumption of decline to 1.3425 (Sep 22 low).

The alternative scenario is consolidation above the MA 200 H1 line, followed by growth to 1.3585 (Sep 13 high).

On Friday, the AUD/USD pair traded higher and closed the day in positive territory around the price of 0.6440. Today, on the contrary, the pair fell a little, dropping to the level of 0.6420. On the hourly chart, AUD/USD is still trading below the moving average line MA (200) H1 (0.6440). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair 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: 0.6465-70, 0.6510, 0.6530
• Support levels are at: 0.6405, 0.6380-85, 0.6360

Probably, the main scenario is a continuation of the downward movement to 0.6405 (Sep 22 low).

The alternative scenario is consolidation above MA 200 H1 with subsequent growth to 0.6510 (Sep 20 high).

On Friday, the XAU/USD traded higher and closed the day in positive territory near the price of 1925. Today, gold, on the contrary, fell a little, dropping to the level of 1922. On the hourly chart, XAU/USD is still trading above the moving average line MA (200) H1 (1922 ). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while gold remains above MA 200 H1, it may be necessary to look for entry points to buy when a correction is formed.

• Resistances levels are at: 1929-30, 1947, 1952
• Support levels are at: 1914, 1900-01, 1884-89

Probably, the main scenario is the resumption of the upward movement to $1929 (Sep 22 high).

The alternative scenario is a breakout of the MA 200 H1 level followed by a decline to $1901 (Sep 14 low).

On Friday, Brent oil traded mixed in the range of 92.85-94.70 and closed the day without significant changes. Today, oil fell slightly, dropping to 93.35. On the hourly chart, Brent is testing the strength of support - the moving average line MA (200) H1 (93.45). On the four-hour chart, oil still remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the north direction in trading and while Brent remains above MA 200 H1, may be you need to look for entry points to buy at the end of the correction.

• Resistances levels are at: 94.70-80, 96.05-40, 97.70
• Support levels are at: 91.85-30, 90.90, 90.35-50

Probably, the main scenario is a resumption of growth to 94.70 (Sep 22 high).

The alternative scenario involves consolidation below MA 200 H1 with a subsequent fall to 90.35 (Sep 11 low).

On Friday, the USD/JPY pair traded higher and closed the day in positive territory around the price of 148.35. Today, the pair was trading in a narrow range of 148.25-148.45, remaining near the highs of November 2022. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (147.75). 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 while the pair remains above the MA 200 H1, may be you need to look for entry points to buy when a correction is formed.

• Resistances levels are at: 148.45, 148.85, 149.45
• Support levels are at: 147.90-95, 147.30, 147.00

Probably, the main scenario is a resumption of growth to 148.45 (session high).

The alternative scenario involves consolidation below MA 200 H1, followed by a fall to 146.45 (Sep 12 low).

On Friday, the USD/CHF traded higher and closed the day in the positive territory around the price of 0.9070. Today the pair also rose slightly, rising to 0.9080. On the hourly chart, USD/CHF is still trading above the moving average line MA (200) H1 (0.8975). 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 while the pair remains above the MA 200 H1, may be you need to look for entry points to buy when a correction is formed.

• Resistances levels are at: 0.9080, 0.9110-20, 0.9145-60
• Support levels are at: 0.9045, 0.9020, 0.8985

Probably, the main scenario is continued growth to 0.9080 (session high).

The alternative scenario is a final consolidation below the MA 200 H1 level, followed by a fall to 0.8895 (Sep 8 low).

On Friday, the GBP/USD traded lower and closed the day in the red zone around the price of 1.2235. Today the pair was trading in a narrow range of 1.2235-50, remaining close to the March lows. On the hourly chart, GBP/USD is still trading below the moving average line MA (200) H1 (1.2380). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair 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: 1.2305, 1.2330, 1.2420-25
• Support levels are at: 1.2230, 1.2215, 1.2180-90

Probably, the main scenario is a continuation of the fall to 1.2230 (Sep 22 low).

The alternative scenario is a final consolidation above the MA 200 H1 level with subsequent growth to 1.2545 (Sep 11 high).

On Friday, the EUR/USD traded lower and closed the day in the red zone around the price of 1.0645. Today the pair was trading in a narrow range of 1.0645-55, remaining close to Friday's closing price. On the hourly chart, EUR/USD is still trading below the moving average line MA (200) H1 (1.0680). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair 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: 1.0670, 1.0690, 1.0735
• Support levels are at: 1.0615, 1.0550, 1.0515

Probably, the main scenario is a continued decline to 1.0615 (Sep 22 low).

The alternative scenario involves consolidation above MA 200 H1, followed by growth to 1.0770 (Sep 12 high).