Technical Analysis

15 October 2020
  • 12:10

    NZD/USD fell sharply, retreating from a three-week high

    Today, the NZD/USD pair fell sharply from $0.6660 to $0.6590, further retreating from the three-week high ($0.6680) reached yesterday. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($0.6630), and on the four - hour chart-below MA (200) H4 ($0.6655). The $0.6570 support may keep the NZD/USD from falling further. If it breaks through, the price may drop to $0.6545. On the other hand, a breakout of the MA (200) H1 ($0.6630) may push the pair up to $0.6670-85. The most likely range of price movement today may be hidden within the wide range of $1.6570-1.6630.


    Resistance levels are at: $0.6630, $0.6670-85, $0.6760

    Support levels are at: $0.6570, $0.6545, $0.6510


    The main scenario for the pair's promotion - continuation of the downward movement to $0.6570 (September 30 low)

    An alternative scenario - correction, growth to MA (200) H1 ($0.6630) and then may be growth to $0.6670-85 (October 9-14 highs)


  • 11:52

    USD/JPY rose slightly, but remains below MA (200) H1

    Today, the USD/JPY pair is trading with a slight increase, regaining some of the positions lost yesterday: the pair rose to Y105.35, after falling yesterday to Y105.00. The pair is trading below the MA (200) H1 moving average line (Y105.60). The situation is similar on the four-hour chart. In this situation, it is probably worth continuing to stick to the southern direction in trading and it may be worth looking for points of entry to sell. The most likely range of movement of the pair today may be hidden within the range of Y105.00-60.

    Resistance levels are at: Y105.50-60, Y105.80, Y106.05-10

    Support levels are at: Y104.90-105.00, Y104.40, Y104.00


    The main scenario for the pair's promotion - correction, breakout of the 104.90-105.00 area (October 2 and 14 lows) and a likely decline in the pair to Y104.40 (September 22 low)

    An alternative scenario - breakout of the Y105.50-60 area (highs on October 13-14, MA (200) H1) and possible growth to Y105.80 (September 30 and October 5-6 highs).


  • 11:38

    USD/CHF is testing the MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9125-55, remaining within yesterday's range of Chf0.9110-60. On the hourly chart, the pair is testing the moving average line MA (200) H1 (Chf0.9140), and on the four-hour chart, the situation is similar. While USD/CHF is not fixed above this level, it is probably worth sticking to the southern direction in trade and, at the end of the correction, look for exit points to sell. Yesterday's high of Chf0.9160 may keep USD/CHF from rising. If it breaks through, the pair may rise to Chf0.9195. On the other hand, if yesterday's low of Chf0.9110 is broken, the pair may drop to Chf0.9085.


    Resistance levels are at: Chf0.9160, Chf0.9195, Chf0.9245

    Support levels are at: Chf0.9110, Chf0.9085, Chf0.9050-55


    The main scenario for the pair's promotion -  breakout of yesterday's low of Chf0.9110 and probable decline of the pair to Chf0.9085 (October 12-13 low)

    An alternative scenario - break of yesterday's high of Chf0.9160 and possible growth of the pair to Chf0.9195 (October 8 high)

  • 11:24

    GBP/USD dropped below MA (200) H1

    Today, the GBP/USD pair is trading with a decrease (from $1.3030 to $1.2920), losing most of the positions gained yesterday. Yesterday, the pair rose sharply from $1.2860 to $1.3065. On the hourly chart, GBP/USD fell below the MA (200) H1 moving average line ($1.2970). The situation is similar on the four-hour chart. The $1.2890 support may keep the GBP/USD from falling further. If it breaks through, the price may drop to $1.2845-60. On the other hand, the pair may still rise to $1.3005 after the correction ends. The most likely range of price movement today may be hidden within the range of $1.2890 -1.3005


    Resistance levels are at: $1.3005, $1.3065-80, $1.3170

    Support levels are at: $1.2890, $1.2845-60, $1.2805


    The main scenario for the pair's promotion - correction, breakout of the $1.3005 resistance (October 6 high, October 12 low) and the pair may rise to $1.3065-80 (October 12-13 highs)

    An alternative scenario - breakout of the $1.2890 support (October 8 low) and the pair's likely decline to $1.2845-60 (October 7 and 14 lows)



  • 11:08

    EUR / USD fell to a ten-day low

    Today, the EUR/USD pair is trading down from $1.1760 to $1.1700, reaching a ten-day low. At the time of writing, the pair rose slightly to $1.1720. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.1770) and on the four-hour chart below MA (200) H4 ($1.1785). If the pair gains a foothold below these levels, a new downtrend is likely to start forming. Until this happens, it may be worth sticking to the southern direction in trading, and at the end of the correction, you should look for exit points to buy. The most likely range of price movement today may be hidden within the range of $1.1700-70.


    Resistance levels are at: $1.1770, $1.1830, $1.1870

    Support levels are at: $1.1685-1.1700, $1.1610, $1.1540


    The main scenario for promoting the pair  - correction and growth to $1.1770 (October 14 high, MA (200) H1)

    An alternative scenario - if the session low of $1.1700 breaks, the pair may decline to $1.1685 (September 30 low)

  • 06:09

    USD/CAD is trading near a 5-week low

    Yesterday the USD/CAD traded in different directions in the range of С$1.3115-60 and closed the day without significant changes. Today it also traded in a narrow range of C$1.3140-60, staying close to the 5-week low. On the hourly chart, USD/CAD is still trading below the moving average MA (200) H1 (C$1.3200). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering 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 to form a correction.

    • Resistances levels are at: С$1.3180, С$1.3250, С$1.3285

    • Support levels are at: C$1.3100, C$1.3075, C$1.3045

    Probably, the main scenario - is a continuation of the decline to C$1.3100 (Oct 13 low). An alternative scenario - may be consolidation above MA (200) H1 with a subsequent rise to C$1.3340 (Oct 7 high).

  • 06:02

    AUD/USD fell sharply

    Yesterday the AUD/USD traded in different directions in the range of $0.7150-90 and closed the day without significant changes. Today it fell sharply, dropping to $0.7125. On the hourly chart, AUD/USD is testing the strength of the support - the moving average MA (200) H1 ($0.7170). On the four-hour chart, it remains below the MA 200 H4 line. Based on the foregoing, it is probably worth adhering to the northern direction in trading and until the AUD/USD finally consolidates below MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $0.7190-00, $0.7230-40, $0.7265

    • Support levels are at: $0.7120, $0.7095, $0.7075

    Probably, the main scenario - is the continuation of the upward movement to $0.7190 (Oct 14 high). An alternative scenario - may be final consolidation below MA 200 H1, followed by a decline to $0.7095 (Oct 6 low).

  • 05:39

    Gold continues to test support for MA 200 H1

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around $1900. Gold traded in a tight range of $1892-03 today, staying close to yesterday's close. On the hourly chart, XAU/USD continues to test the strength of the support - the moving average MA (200) H1 ($1903). On the four-hour chart, gold remains below 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 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: $1912, $1923, $1931-33

    • Support levels are at: $1882, $1873, $1865

    Probably, the main scenario - is the continuation of the upward movement to $1912 (Oct 14 high). An alternative scenario - consolidation below MA 200 H1 with a subsequent decline to $1873 (Oct 7 low).

  • 05:19

    Oil remains above MA 200 H1

    Yesterday, Brent crude was trading higher and closed the day in positive territory around $43.10. Oil traded in a narrow range of $43.10-25 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($41.50). On the four-hour chart, oil remains above the MA 200 H4 line. 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 to form a correction.

    • Resistances levels are at: $43.65, $44.10-35, $45.25

    • Support levels are at: $41.90, $40.85-10, $40.15

    Probably, the main scenario - advance is a further rise to $43.65 (Sep 18 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $39.35 (Oct 5 low).

  • 05:00

    USD/JPY remains below MA 200 H1

    The USD/JPY was trading lower yesterday and closed the day in the red around the Y105.10. Today it rallied slightly, rising to Y105.30. On the hourly chart, USD/JPY is still trading below the MA (200) H1 (Y105.60) moving average line. 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 a sell entry point to form a correction.

    • Resistances levels are at: Y105.50-60, Y105.90, Y106.10-15

    • Support levels are at: Y105.05, Y104.85, Y104.40

    Probably, the main scenario - is the continuation of the downward movement to Y105.05 (Oct 14 low). An alternative scenario - may be consolidation above MA 200 H1, followed by a rise to Y106.10 (Oct 8 high).

  • 04:44

    USD/CHF remains below MA 200 H1

    Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9130. Today it was trading in a narrow range of Chf0.9130-35, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading below the MA line (200) H1 (Chf0.9145). 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/CHF remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.

    • Resistances levels are at: Chf0.9160, Chf0.9195, Chf0.9215

    • Support levels are at: Chf0.9085-95, Chf0.9050-55, Chf0.9000

    Probably, the main scenario - is a subsequent decline to Chf0.9095 (Oct 13 low). Alternative scenario - may be consolidation above MA 200 H1, with further advance towards Chf0.9215 (Oct 2 high).

  • 04:30

    GBP/USD is again above MA 200 H1

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around $1.3010. Today it was trading in a narrow range of $1.3000-30, staying close to yesterday's closing price. On the hourly chart, GBP/USD is again trading above the MA line (200) H1 ($1.2965). 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 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: $1.3065-80, $1.3155, $1.3185

    • Support levels are at: $1.2965, $1.2845-60, $1.2805-20

    Probably, the main scenario - is continued growth to $1.3065 (Oct 14 high). An alternative scenario - consolidation below the MA 200 H1 level with a subsequent decline to $1.2845 (Oct 7 low).

  • 04:05

    EUR/USD continues to test support MA 200 H1

    Yesterday the EUR/USD traded in different directions in the range of $1.1720-$1.1770 and closed the day without significant changes. Today it was also trading in a narrow range of $1.1740-55, staying close to yesterday's closing price. On the hourly chart, EUR/USD continues to test the strength of the support - the moving average line MA (200) H1 ($1.1770). On the four-hour chart, it remains below the MA 200 H4 line. Based on the foregoing, it is probably worth adhering to the northern direction in trading and until the EUR/USD finally consolidates below MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.1770, $1.1795, $1.1825-30

    • Support levels are at: $1.1720, $1.1695, $1.1665

    Probably, the main scenario - is continued growth to $1.1770 (Oct 14 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $1.1695 (Oct 2 low).

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.