Technical Analysis

4 August 2022
  • 12:23

    NZD/USD is testing MA (200) H1

    Today, the NZD/USD pair is mainly growing from $0.6265 to $0.6315 and on the hourly chart, the pair is testing the MA (200) H1 ($0.6270) moving average lines. The situation is similar on the four-hour chart. Technically speaking, the resistance of $0.6315 can keep prices from rising. The lower bound of $0.6185 represents the support level.



    • Resistances are at the marks: $0,6315, $0,6350-60, $0,6395


    • An alternative scenario: $0,6210, $0,6185, $0,6140



    The main scenario of the pair's movement implies an increase to $0.6350-60 (June 20-21 and August 1 high)

    An alternative scenario is a breakout of the session minimum of $0.6210 and there may be a decline to $0.6185 (July 21 low)

  • 12:16

    USD/JPY is testing MA (200) H1

    Today, the USD/JPY pair is trading in the range of Y133.40-134.40, retreating on Tuesday from a 2-month low of Y130.40. On the hourly chart, the pair is testing the moving average line MA (200) H1 (Y134.40) and on the four-hour chart below MA (200) H4 (Y136.00). Technically speaking, the resistance of Y134.75 can keep prices from further growth. The lower bound of Y130.40 represents the support level.

     

    Resistance levels are:Y134.65, Y137.45, Y138.00

    Support levels are: Y132.30, Y130.40, Y129.50


    The main scenario for the pair's promotion is a breakout of support Y132.30 (August 3 low) and there may be a decline of Y130.40 (June 6 and August 1 low)

    An alternative scenario is a breakout of the resistance of Y134.65 (July 29 and August 3 high) and there may be an increase to Y137.45 (July 27 high)

  • 12:07

    USD/CHF is testing MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9585-0.9625 after rising yesterday from Chf0.9545 to Chf0.9650. On the hourly chart, the pair is testing the MA (200) H1 moving average line (Chf0.9580). On the four-hour chart, the pair remains below MA (200) H1 (Chf0.9655). Technically speaking, the resistance of Chf0.9670 can keep prices from further growth. The lower bound of Chf0.9450-70 represents the support level.



    Resistance levels are: Chf0.9650-70, Chf0.9740, Chf0.9790

    Support levels are: Chf0.9540, Chf0.9450-70, Chf0.9410


    The main scenario for the pair's promotion is a breakout of support for Chf0.9540 (August 3 low) and there may be a decline in Chf0.9450-70 (April 20-21, August 2 lows)

    An alternative scenario is a breakout of the resistance of Chf0.9650-70 (July 25-27 and August 3) and there may be an increase to Chf0.9740 (July 21 high)


  • 11:47

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

    Today, the GBP/USD pair was trading mainly with an increase from $1.2130 to $1.2210, but at the time of writing, it dropped sharply to $1.2080. On the hourly chart, the pair is testing the moving average line MA (200) H1 ($1.2135), but on the four-hour chart it remains above MA (200) H4 ($1.2075). Technically speaking, the support of $1.2065 may keep prices from further decline. The upper limit of $1.2290 represents the resistance level.


    ⦁ Resistance levels are: $1.2210, $1.2290, $1.2330

    ⦁ Support levels are: $1.2065, $1.1960, $1.1890


    The main scenario for the pair's promotion is a breakout of the resistance of $1.2210 (August 3 high, session maximum) and there may be an increase to $1.2290 (August 1 high)

    An alternative scenario is a breakout of the $1.2065 support (July 29 low) and there may be a decrease of $1.1960 (July 26 low)


  • 11:30

    EUR/USD is testing MA (200) H1


    Today, the EUR/USD pair is mainly growing from $1.0155 to $1.0200 and is testing the MA (200) H1 moving average line ($1.0195) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 ($1.0275). Technically speaking, the resistance of $1.0295 may keep prices from rising further. The lower bound of $1.0095 represents the support level.


    Resistance levels are: $1.0210, $1.0295, $1.0460-90

    Support levels are: $1.0120, $1.0095, $1.0000


    The main scenario for the pair's promotion is a breakout of the support of $1.0120 (August 3 low) and there may be a decline to $1.0095 (July 27 low)

    An alternative scenario is a breakout of the resistance of $1.0210 (August 3 high) and there may be an increase to $1.0295 (August 2 high)


  • 06:23

    The USD/CAD is still testing the MA 200 H1 resistance

    Yesterday the USD/CAD traded down and closed the day in the red zone near the price of C$1.2840. Today it was trading in a narrow range of C$1.2835-55, staying close to yesterday's closing price. On the hourly chart, USD/CAD is still testing resistance - the moving average line MA (200) H1 (С$1.2845). On the four-hour chart, the USD/CAD 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 USD/CAD 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: С$1.2890, С$1.2910, С$1.2945

    • Support levels are at: С$1.2820, С$1.2755-65, С$1.2725

    Probably, the main scenario is the continued decline to C$1.2820 (the low of the American session on Aug 1).

    An alternative scenario is a consolidation above the MA 200 H1 line, followed by a rise to С$1.2990 (Jul 19 high).

  • 06:00

    AUD/USD is still testing support for MA 200 H1

    Yesterday the AUD/USD traded higher and closed the day in positive territory around $0.6945. Today it has also slightly increased, having risen to the level of $0.6960. On the hourly chart, AUD/USD is still testing the strength of the support - the moving average line MA (200) H1 ($0.6960). On the four-hour chart, the AUD/USD is still above the MA 200 H4 line. Based on the above, it may be probably worth sticking to the north direction in trading, and as long as the AUD/USD 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: $0.6965, $0.7045, $0.7070

    • Support levels are at: $0.6905, $0.6885, $0.6860

    Probably, the main scenario is the continuation of the upward movement to $0.6965 (high of the American session on Aug 2).

    Alternative scenario is fixing below MA 200 H1 with subsequent decline to $0.6835 (low of the European session on Jul 19).

  • 05:47

    Gold remains above MA 200 H1

    Yesterday, the XAU/USD traded in different directions in the range of $1754-$1772 and closed the day without significant changes. Today, gold rose slightly, rising to $1771. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1643). 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 the XAU/USD 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: $1787, $1804, $1812-14

    • Support levels are at: $1751-54, $1733-35, $1711

    Probably, the main scenario is the continuation of the upward movement to $1787 (Aug 2 high).

    The alternative scenario is a break of the MA 200 H1 level, followed by a decline to $1680 (Jul 21 low).

  • 05:19

    Oil trades near 3-week low

    Yesterday, Brent crude traded lower and closed the day in the red around $100.55. Today, oil traded in a tight range of $99.80-$100.85, staying close to a 3-week low. On the hourly chart, Brent is still trading below the moving average MA (200) H1 ($104.90). 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 Brent remains below MA 200 H1, it may be necessary to look for entry points for selling to form a correction.

    • Resistances levels are at: $105.80-95, $108.10, $110.60

    • Support levels are at: $99.50, $96.05, $92.85

    Probably, the main scenario is to move forward is a likely decline towards $99.50 (Jul 15 low).

    The alternative scenario is final consolidation above the MA 200 H1 followed by a rise to $110.60 (Jul 29 high).

  • 05:11

    USD/JPY remains below MA 200 H1

    Yesterday the USD/JPY traded higher and closed the day in positive territory near the price of Y133.85. Today it was trading in a narrow range of Y133.40-Y134.10, remaining close to yesterday's closing price. On the hourly chart, USD/JPY is still trading below the moving average line MA (200) H1 (Y134.55). 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/JPY 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: Y134.55, Y135.75, Y136.40

    • Support levels are at: Y132.30, Y130.40-65, Y129.55-70

    Probably, the main scenario is a continuation of the downward movement towards Y132.30 (Aug 3 low).

    The alternative scenario is consolidation above MA 200 H1, followed by growth towards Y138.85 (Jul 21 high).

  • 04:44

    The USD/CHF is testing the MA 200 H1 resistance

    Yesterday the USD/CHF traded higher and closed the day in positive territory near the price of Chf0.9605. Today it was trading in a narrow range of Chf0.9600-15, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing resistance - the moving average line MA (200) H1 (Chf0.9575). On the four-hour chart, the USD/CHF is still below the MA 200 H4 line. Based on the above, it is probably worth sticking to the south direction in trading, and as long as the USD/CHF remains below MA 200 H4, it may be necessary to look for entry points to sell at the end of the correction.

    • Resistances levels are at: Chf0.9660-65, Chf0.9705, Chf0.9740

    • Support levels are at: Chf0.9570, Chf0.9540, Chf0.9505

    Probably, the main scenario is a subsequent decline to Chf0.9570 (low of the American session on Aug 3).

    An alternative scenario is a consolidation above the MA 200 H1 level, followed by a rise to Chf0.9740 (Jul 21 high).

  • 04:26

    The GBP/USD is testing the support of MA 200 H1

    Yesterday the GBP/USD traded lower and closed the day in the red zone near the price of $1.2145. Today it was trading in a narrow range of $1.2135-65, staying close to yesterday's closing price. On the hourly chart, the GBP/USD is testing the strength of the support - the moving average line MA (200) H1 ($1.2130). On the four-hour chart, the GBP/USD is still above the MA 200 H4 line. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the GBP/USD 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: $1.2205, $1.2240, $1.2290

    • Support levels are at: $1.2100, $1.2060, $1.2020

    Probably, the main scenario is continued growth towards $1.2205 (Aug 3 high).

    The alternative scenario is consolidation below the MA 200 H1 level, followed by a decline to $1.1965 (Jul 26 low).

  • 04:04

    EUR/USD remains below MA 200 H1

    Yesterday the EUR/USD traded in different directions in the range of $1.0125-$1.0210 and closed the day without significant changes. Today it was also trading in a narrow range of $1.0155-75, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.0195). 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 entry points to sell for the formation of a correction.

    • Resistances levels are at: $1.0210, $1.0245, $1.0295

    • Support levels are at: $1.0115-25, $1.0080-95, $1.0040

    Probably, the main scenario is a continued decline towards $1.0125 (Aug 3 low).

    An alternative scenario is fixing above MA 200 H1, followed by growth to $1.0325 (high of the American session on Jul 5).

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