Technical Analysis

23 November 2022
  • 13:52

    NZD/USD is testing MA (200) H1

    Today, the NZD/USD pair is trading in the range of $0.6135-95, after rising last week to a 2.5-month high of $0.6205. On the hourly chart, the pair rose slightly above the moving average line MA (200) H1 ($0.6130) and on the four-hour chart remains above MA (200) H4 ($0.5850). Technically speaking, the resistance of $0.6205 may keep prices from rising further. The lower bound of $0.5985 represents the support level.


    • Resistances are at the marks: $0.6205, $0.6250, $0,6380


    • An alternative scenario: $0,6060-90, $0,5985, $0,5840

    The main scenario of the pair's movement assumes a breakout of the resistance of $0.6205 (November 15 high) and there may be an increase to $0.6250 (August 25 high)

    An alternative scenario implies a breakout of the support of $0.6060-90 (November 14, 17 and 21 lows) and there may be a decline to $0.5985 (November 11 lows)


  • 13:37

    USD/JPY is testing MA (200) H1

    Today, the USD/JPY pair is trading in the range of Y140.90-141.65 after falling last week to a new 2.5-month low of Y137.65. On the hourly chart, the pair is testing the MA (200) H1 (Y140.30) moving average line, but on the four-hour chart it remains below MA (200) H4 (Y145.50). Technically speaking, the resistance of Y142.25-50 can keep prices from further growth. The lower bound of Y137.65 represents the support level.

     

    Resistance levels are: Y142.25-50, Y145.15, Y146.60-90

    Support levels are: Y139.60, Y138.75, Y137.70

     

    The main scenario of the pair's promotion still assumes a decline to Y137.65 (November 15 low)

    An alternative scenario implies a breakout of the resistance Y142.25-50 (November 11 and 21-22 highs) and there may be an increase to Y146.60-90 (November 8-10 highs)

  • 13:16

    USD/CHF is testing MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9490-0.9530 after falling last week to a new 3-month low of Chf0.9355. On the hourly chart, the pair is testing the moving average line MA (200) H1 (Chf0.9495), but on the four-hour chart it remains below MA (200) H4 (Chf0.9835). Technically speaking, the resistance of Chf0.9685 can keep prices from further growth. The lower bound of Chf0.9355 represents the support level.

     

    Resistance levels are: Chf0.9530, Chf0.9600, Chf0.9685


    Support levels are:  Chf0.9430, Chf0.9355, Chf0.9285


    The main scenario of the pair's promotion still assumes a decline to Chf0.9355 (November 15 low)

    An alternative scenario assumes a breakout of the session maximum of Chf0.9530 and there may be an increase to Chf0.9600 (November 21 high)


  • 13:08

    GBP/USD is testing MA (200) H1

    Today, the GBP/USD pair is trading in the range of $1.1870-1.1945 and is testing the MA (200) H1 moving average line ($1.1845) on the hourly chart. On the four-hour chart, the pair remains above MA (200) H4 ($1.1470). Technically speaking, the resistance of $1.2025 may keep prices from rising further. The lower bound of $1.1710 represents the support level.


    ⦁ Resistance levels are: $1.2025, $1.2080, $1.2150


    ⦁ Support levels are: $1.1825-45, $1.1760, $1.1710


    The main scenario of the pair's promotion still assumes an increase to $1.2025 (November 15 high)

    The alternative scenario assumes a breakout of the support of $1.1825-45 (November 22 low, MA (200) H1) and there may be a decline to $1.1710 (November 14 low)

  • 12:33

    EUR/USD is testing MA (200) H1

    Today, the EUR/USD pair is trading in the range of $1.0300-50 and is testing the MA (200) H1 moving average line ($1.0320) on the hourly chart. On the four-hour chart, H4 ($0.9985) remains above MA (200). Technically speaking, the support of $1.0160 can keep prices from further decline. The upper limit of $1.0480 represents the resistance level.


    Resistance levels are: $1.0350, $1.0405, $1.0480

    Support levels are: $1.0220, $1.0160, $0.9910-35


    The main scenario of the pair's promotion assumes a breakout of the session maximum of $1.0350 and there may be an increase to $1.0485 (November 15 high)

    An alternative scenario implies a breakout of the support of $1.0220 (November 21 low) and may be a decline to $1.0160 (November 11 low)


  • 07:19

    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$1.3375. Today it, on the contrary, grew a little, having risen to the level of С$1.3395. On the hourly chart, USD/CAD is still testing resistance - the moving average line MA (200) H1 (С$1.3340). On the four-hour chart, the USD/CAD is still below the MA 200 H4 line. Based on the above, it is probably worth sticking to the south direction in trading, and while the USD/CAD 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: С$1.3445, С$1.3495, С$1.3570

    • Support levels are at: С$1.3355, С$1.3290-00, С$1.3225-40

    Probably, the main scenario is the resumption of decline to C$1.3355 (session low).

    The alternative scenario is a consolidation above the MA 200 H1 line, followed by growth to С$1.3570 (Nov 10 high).

  • 06:58

    The AUD/USD is still testing support for MA 200 H1

    Yesterday the AUD/USD traded higher and closed the day in the positive territory around $0.6645. Today it was trading in a narrow range of $0.6635-60, staying close to yesterday's closing price. On the hourly chart, AUD/USD is testing the strength of the support - the line of the moving average MA (200) H1 ($0.6685). On the four-hour chart, the AUD/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 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: $0.6685, $0.6730, $0.6750

    • Support levels are at: $0.6605, $0.6580-85, $0.6555

    Probably, the main scenario is the continuation of the overall upward movement towards $0.6685 (Nov 21 high).

    The alternative scenario is final fixation below MA 200 H1 followed by fall to $0.6385 (Nov 10 low).

  • 06:40

    Gold is still testing MA 200 H1 support

    Yesterday the XAU/USD was trading in different directions in the range of $1736-$1749 and closed the day without significant changes. Today, gold fell slightly, dropping to $1,732. On the hourly chart, XAU/USD is testing the strength of the support - the moving average line MA (200) H1 ($1758). On the four-hour chart, gold 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 gold 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: $1749, $1767-70, $1784-86

    • Support levels are at: $1732, $1701-03, $1664

    Probably, the main scenario is the continuation of the upward movement to $1749 (Nov 22 high).

    The alternative scenario is a break of the MA 200 H1 level, followed by a fall to $1701 (Nov 9 low).

  • 06:20

    Oil remains below MA 200 H1

    Yesterday, Brent crude traded higher and closed the day in the positive territory around $88.75. Today, oil fell slightly, dropping to $88.25. On the hourly chart, Brent is still trading below the moving average MA (200) H1 ($92.20). 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 as long as 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: $90.75-15, $92.95-$93.45, $95.40

    • Support levels are at: $87.60, $82.70, $81.50

    Probably, the main scenario is a likely further decline towards $87.60 (Nov 22 low).

    The alternative scenario is a consolidation above the MA 200 H1 followed by a rise to $99.20 (Nov 8 high).

  • 05:58

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

    Yesterday the USD/JPY traded down and closed the day in the red zone near the price of Y141.15. Today it was trading in a narrow range of Y140.90-Y141.50, remaining close to yesterday's closing price. On the hourly chart, USD/JPY is still testing resistance - the moving average line MA (200) H1 (Y140.30). On the four-hour chart, the USD/JPY 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/JPY remains below MA 200 H1, it may be necessary to look for entry points for selling at the end of the correction.

    • Resistances levels are at: Y142.25-45, Y143.85, Y146.55

    • Support levels are at: Y140.90, Y140.15, Y139.65

    Probably, the main scenario is the continuation of the downward movement to Y140.90 (session low).

    The alternative scenario is final consolidation above MA 200 H1, followed by growth towards Y146.95 (Nov 8 high).

  • 05:46

    The USD/CHF continued yesterday's decline

    Yesterday the USD/CHF traded lower and closed the day in the red zone near the price of Chf0.9515. Today it also fell a little, dropping to the level of Chf0.9500. On the hourly chart, USD/CHF is still testing resistance - the line of the moving average MA (200) H1 (Chf0.9500). On the four-hour chart, the it 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/CHF remains below MA 200 H1, it may be necessary to look for entry points for selling at the end of the correction.

    • Resistances levels are at: Chf0.9540, Chf0.9580-95, Chf0.9680

    • Support levels are at: Chf0.9475, Chf0.9435, Chf0.9390

    Probably, the main scenario is a continuation of its decline to Chf0.9475 (the low of the American session on Nov 17).

    The alternative scenario is final consolidation above MA 200 H1, followed by growth towards Chf0.9895 (Nov 10 high).

  • 05:29

    The GBP/USD remains above MA 200 H1

    Yesterday the GBP/USD traded higher and closed the day in the positive territory around $1.1880. Today it was trading in a narrow range of $1.1870-05, staying close to yesterday's closing price. On the hourly chart, the GBP/USD is still trading above the MA (200) H1 moving average line ($1.1830). 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 GBP/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: $1.1950-55, $1.2020, $1.2080-95

    • Support levels are at: $1.1825, $1.1765-80, $1.1710

    Probably, the main scenario is continued growth towards $1.1950 (Nov 18 high).

    The alternative scenario is consolidation below the MA 200 H1 level, followed by a fall to $1.1645 (Nov 11 low).

  • 05:12

    The EUR/USD is still testing the MA 200 H1 support

    Yesterday the EUR/USD traded higher and closed the day in the positive territory around $1.0305. Today it also rose a little, having risen to the level of $1.0320. On the hourly chart, EUR/USD is still testing the strength of the support - the moving average line MA (200) H1 ($1.0320). On the four-hour chart, the EUR/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 EUR/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: $1.0330, $1.0395-05, $1.0435

    • Support levels are at: $1.0245-50, $1.0220, $1.0165

    Probably, the main scenario is continued growth towards $1.0330 (Nov 21 high).

    The alternative scenario is a final consolidation below the MA 200 H1, followed by a fall to $0.9935 (Nov 10 low).


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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.94% 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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