Technical Analysis

13 January 2022
  • 13:15

    NZD/USD rose to a 6-week high.

    Today, the NZD/USD pair continues yesterday's growth and has grown from $0.6835 to a 6-week high of $0.6885. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($0.6790). The situation is similar on the four-hour chart. Technically speaking, the resistance of $0.6885-95 may keep the pair from further growth. The lower bound of $0.6835 represents the support level.


    Resistance levels are: $0.6885-95, $0.6955, $0.7015

    Support levels are: $0.6835, $0.6770-90, $0.6730


    The main scenario for the pair's promotion — the resistance breakout is $0.6885-95 (November 25 high, session maximum) and there may be an increase to $0.6955 (November 23-24 high)

    An alternative scenario — breakout of the session low of $0.6835 and there may be a decline to $0.6770-90 (January 12 low, MA (200) H1)

  • 13:02

    USD/JPY dropped to a 3-week low

    Today, the USD/JPY pair continues yesterday's decline and dropped from Y114.70 to a 3-week low of Y114.25. On the hourly chart, the pair dropped below the moving average line MA (200) H1 (Y115.50). On the four-hour chart, USD/JPY is testing MA (200) H4 (Y114.30). Technically speaking, the support of Y113.95 can keep the pair from further decline. The upper bound of Y114.70 represents the resistance level.

     

    Resistance levels are: Y114.70, Y115.45-50, Y115.85

    Support levels are: Y113.95, Y113.55, Y113.15

     

    The main scenario for the pair's promotion — support breakthrough of Y113.95 (December 22 low) and there may be a decline to Y113.55 (December 21 low)

    An alternative scenario — break of the session maximum of Y114.70 and there may be an increase in the pair to Y115.45-50 (January 12 high, MA (200) H1)

  • 12:46

    USD/CHF dropped to a 2-week low

    Today, the USD/CHF pair continues yesterday's decline and dropped from Chf0.9150 to a 2-week low of Chf0.9110. On the hourly chart of USD/CHF, the pair fell below the moving average line of MA (200) H1 (Chf0.9195) and on the four-hour chart - below MA (200) H4 (Chf0.9205). In this situation, a scenario of further decline of the USD/CHF pair is likely. Finding a position to sell can be a wise decision for those who want to take advantage of a stronger Swiss franc.


    Resistance levels are: Chf0.9150, Chf0.9195, Chf0.9245

    Support levels are: Chf0.9085-0.9100, Chf0.9050, Chf0.9020


    The main scenario for the pair's promotion — there may be a decrease in the pair to Chf0.9085-0.9100 (November 1-3, 9-10 and December 31 lows)

    An alternative scenario — breakout of the session maximum Chf0.9150 and there may be an increase to MA (200) H1 (Chf0.9195)

  • 12:26

    GBP/USD is trading near a 10-week high.

    Today, the GBP/USD pair is trading in the range of $1.3700-50 - about a 10-week high. The pair broke through the resistance of $1.3700, which became the closest support. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.3570) and on the four-hour chart - above MA (200) H4 ($1.3380). In this situation, the scenario of further growth of the GBP / USD pair is likely and finding a buy position may be a wise decision.

    However, it is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the 70 level, which signals a possible change in the direction of price movement.


    ⦁ Resistance levels are: $1.3750, $1.3805, $1.3835

    ⦁ Support levels are: $1.3700, $1.3620, $1.3560-70


    The main scenario for the pair's promotion — breakout of the session high of $1.3750 and there may be an increase to $1.3805 (October 29 high)

    An alternative scenario — breakout of the session low of $1.3700 (November 4 high) and there may be a decline to $1.3620 (January 12 low)

  • 12:16

    EUR/USD is trading near a 2-month high

    Today, the EUR/USD pair is trading in the range of $1.1435-80 - about a 2-month high. On the hourly chart, the pair fixed above the moving average line MA (200) H1 ($1.1335) and on the four-hour chart - above MA (200) H4 ($1.1310). Technically speaking, the resistance of $1.1480-90 may keep the pair from further growth. If it breaks through, prices may soar to $1.1610-20. The lower bound of $1.1435 represents the support level.



    Resistance levels are: $1.1480-90, $1.1610-20, $1.1690

    Support levels are: $1.1435,  $1.1385, $1.1335-55


    The main scenario for promoting the pair  — the resistance breakout is $1.1480-90 (November 11 high, session high) and there may be an increase to $1.1610-20 (November 2-4 and 9 highs)

    An alternative scenario — breakout of the session low of $1.1435 and there may be a decline to $1.1385 (December 31 high)

  • 07:20

    USD/CAD is trading near 9-week low

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2505. Today it was trading in a narrow range of C$1.2495-10, staying close to the 9-week low. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.2670). 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$1.2575, С$1.2665, С$1.2695

    • Support levels are at: C$1.2495, C$1.2425, C$1.2390

    Probably, the main scenario is a continuation of the decline to C$1.2495 (session low). An alternative scenario is consolidation above MA (200) H1 with a subsequent rise to C$1.2810 (Jan 6 high).

  • 07:00

    AUD/USD remains above MA 200 H1

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7285. Today it was trading in a narrow range of $0.7275-90, staying close to yesterday's closing price. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7205). 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: $0.7290, $0.7305, $0.7345

    • Support levels are at: $0.7245, $0.7200, $0.7145-55

    Probably, the main scenario is an upward movement to $0.7290 (Jan 12 high). An alternative scenario is final consolidation below MA 200 H1, followed by a decline to $0.7130 (Jan 7 low).

  • 06:48

    Gold consolidated above MA 200 H1

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around the $1825. Today gold was trading in a narrow range of $1823-27, staying close to yesterday's closing price. On the hourly chart, XAU/USD is trading above the MA line (200) H1 ($1808). 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 to form a correction.

    • Resistances levels are at: $1829-31, $1849, $1865

    • Support levels are at: $1814, $1801, $1790

    Probably, the main scenario is an upward movement to $1829 (Jan 5 high). An alternative scenario is consolidation below MA 200 H1 with a subsequent decline to $1783 (Jan 7 low).

  • 06:21

    Oil is trading near 9-week high

    Yesterday, Brent crude was trading higher and closed the day in positive territory around $84.90. Oil was trading in a narrow range of $84.55-$85.10 today, staying close to a 9-week high. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($81.20). 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 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: $85.35-95, $86.70, $88.00

    • Support levels are at: $83.65, $81.65, $80.65

    Probably, the main scenario is a subsequent rise to $85.35 (Jan 12 high). An alternative scenario is consolidation below the MA 200 H1 with a subsequent decline to $77.25 (Jan 3 low).

  • 06:09

    USD/JPY has consolidated below the MA 200 H1 level

    Yesterday, the USD/JPY was trading lower and closed the day in the red around the Y114.65. Today it was trading in a narrow range of Y114.50-70, staying close to yesterday's closing price. On the hourly chart, USD/JPY has broken through and consolidated below the MA (200) H1 (Y107.80) moving average line. 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 a sell entry point for the formation of a correction.

    • Resistances levels are at: Y115.45, Y115.65, Y116.85

    • Support levels are at: Y114.40, Y113.95-10, Y113.55

    Probably, the main scenario is the continuation of the downward movement to Y114.40 (Jan 12 low). An alternative scenario is consolidation above MA 200 H1, followed by a rise to Y116.35 (Jan 4 high).

  • 05:40

    USD/CHF is testing MA 200 H1 support

    Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9140. Today it was trading in a narrow range of Chf0.9140-45, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.9195) moving average line. 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 until the USD/CHF consolidates below MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: Chf0.9205, Chf0.9245, Chf0.9275

    • Support levels are at: Chf0.9100-15, Chf0.9085, Chf0.9050

    Probably, the main scenario is a further rise to Chf0.9205 (high of the American session on Jan 12). Alternative scenario is consolidation below the MA 200 H1 level, followed by a decline to Chf0.9100 (Dec 31 low).

  • 05:25

    GBP/USD continued yesterday's rise

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.3700. Today it has also increased slightly, rising to the level of $1.3720. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.3560). 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 GBP/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.3720, $1.3800, $1.3830

    • Support levels are at: $1.3620, $1.3560, $1.3525-30

    Probably, the main scenario is continued growth to $1.3720 (session high). An alternative scenario is consolidation below the MA 200 H1 level with a subsequent decline to $1.3430 (Jan 3 low).

  • 05:01

    EUR/USD is trading near an 8-week high

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.1440. Today it was trading in a narrow range of $1.1435-45, staying close to an 8-week high. On the hourly chart, EUR/USD is trading above the MA line (200) H1 ($1.1330). 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 EUR/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.1450, $1.1485, $1.1535

    • Support levels are at: $1.1395, $1.1355, $1.1315

    Probably, the main scenario is continued growth to $1.1450 (Jan 12 high). An alternative scenario is consolidation below the MA 200 H1, followed by a decline to $1.1275 (Jan 4 low).


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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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