Technical Analysis

24 January 2023
  • 13:27

    NZD/USD remains above MA (200) H1

    Today, the NZD/USD pair is trading in the range of $0.6475-0.6520 - slightly below the monthly high of $0.6530 reached last week. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($0.6420). On the four-hour chart, the pair remains above MA (200) H4 ($0.6360). Technically speaking, the resistance of $0.6530 may keep prices from rising further. The lower bound of $0.6365 represents the support level.


    • Resistances are at the marks: $0.6520-30, $0.6575, $0.6645


    • An alternative scenario: $0,6420-40, $0,6365, $0,6320


    The main scenario of the pair's movement assumes a breakout of the resistance of $0.6520-30 (January 18 high, session maximum) and there may be an increase to $0.6575 (June 3 high).

    An alternative scenario implies a breakout of MA (200) H1 ($0.6410) and may be a decline to $0.6365 (January 19 high).


  • 13:03

    USD/JPY is trading slightly above MA (200) H1

    Today, the USD/JPY pair is trading in the range Y129.70-130.75 and on the hourly chart remains slightly above the moving average line MA (200) H1 (Y129.15). On the four-hour chart, the pair remains below MA (200) H4 (Y132.60). Technically speaking, the resistance of Y131.60 can keep prices from further growth. The lower bound of Y127.20 represents the support level.


    Resistance levels are: Y130.90, Y131.60, Y132.85

    Support levels are: Y129.05-15, Y128.30, Y127.20


    The main scenario of the pair's promotion implies a breakout of support Y129.05-15 (January 23 low, MA (200) H1) and there may be a decline to Y127.20 (minimum on January 16).

    An alternative scenario assumes a breakout of the resistance of Y130.90 (January 23 high) and there may be an increase to Y131.60 (January 18 high).


  • 12:39

    USD/CHF is testing MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9190-0.9240 and is testing the MA (200) H1 moving average line (Chf0.9225) on the hourly chart. On the four-hour chart, the pair is trading below MA (200) H4 (Chf0.9275). Technically speaking, the resistance of Chf0.9245 can keep prices from further growth. The lower bound of Chf0.9140-60 represents the support level.


    Resistance levels are:  Chf0.9245, Chf0.9290, Chf0.9320


    Support levels are: Chf0.9190, Chf0.9140-60, Chf0.9085


    The main scenario of the pair's promotion assumes a breakout of the session minimum of Chf0.9190 and there may be a decline to Chf0.9140-60 (January 20-23 lows).

    An alternative scenario assumes a breakout of the resistance of Chf0.9245 (January 18 high) and there may be an increase to Chf0.9290 (January 16 high)


  • 12:32

    GBP/USD retreated slightly from the 5-week high

    Today, the GBP/USD pair is mainly declining from $1.24510 to $1.2300 after rising yesterday to a 5-week high of $1.2450. On the hourly chart, it can test the strength of the MA (200) H1 moving average line ($1.2295). On the four-hour chart, GBP/USD remains above MA (200) H4 ($1.2175). Technically speaking, the support of $1.2255 can keep prices from further decline. The upper limit of $1.2450 represents the resistance level.


    ⦁ Resistance levels are: $1.2450, $1.2520, $1.2600


    ⦁ Support levels are: $1.2255, $1.2150-70, $1.2080


    The main scenario of the pair's promotion assumes a breakout of the resistance of $1.2450 (December 14 and January 23 highs) and there may be an increase to $1.2520 (June 10 high).

    An alternative scenario implies a breakout of MA (200) H1 ($1.2295) support of $1.2255 (January 18 low) and there may be a decline to $1.2150-70 (January 13-17 lows).


  • 12:22

    EUR / USD торгуется около 9-месячного максимума

    Сегодня пара EUR/USD торгуется в диапазоне $1.0850- $1.0900 после роста вчера до нового 9-месячного максимума $1.0925. На часовом графике пара остается немного выше линии скользящей средней МА (200) Н1 ($1.0830) и на четырехчасовом графике выше МА (200) Н4 ($1.0675). Технически говоря, сопротивление $1.0925-35 может удержать цены от дальнейшего роста. Нижняя граница $1.0765 представляет собой уровень поддержки.


    Resistance levels are: $1.0925-35, $1.1055, $1.1165


    Support levels are: $1.0830-45, $1.0800, $1.0765


    The main scenario of the pair's promotion assumes a breakout of the resistance of $1.0925-35 (April 21 and January 23 highs) and there may be an increase of $1.1055 (April 4 high).

    An alternative scenario implies a breakout of $1.0830-45 (January 23 low, MA (200) H1) and there may be a decline to $1.0765 (January 18 low).


  • 07:22

    The USD/CAD remains below MA 200 H1

    Yesterday the USD/CAD traded in different directions in the range С$1.3340-С$1.3415 and closed the day without significant changes. Today it fell a little, dropping to C$1.3350. On the hourly chart, USD/CAD is still trading below the MA (200) H1 moving average line (С$1.3410). 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 entry points to sell for the formation of a correction.

    • Resistances levels are at: С$1.3415, С$1.3495, С$1.3520

    • Support levels are at: С$1.3340, С$1.3320, С$1.3300

    Probably, the main scenario is to move forward is to continue falling towards C$1.3340 (Jan 23 low).

    The alternative scenario is a consolidation above the MA 200 H1 line, followed by growth to С$1.3520 (Jan 19 high).

  • 06:58

    The AUD/USD is trading near August 2022 highs

    Yesterday the AUD/USD traded higher and closed the day in the positive territory around $0.7025. Today it was trading in a narrow range of $0.7025-45, staying close to the August 2022 highs. On the hourly chart, AUD/USD is still trading above the MA (200) H1 moving average line ($0.6960). 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 AUD/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: $0.7060, $0.7125-35, $0.7190

    • Support levels are at: $0.6950-60, $0.6910, $0.6860-70

    Probably, the main scenario is a continuation of the overall upward movement towards $0.7060 (Jan 18 high).

    The alternative scenario is consolidation below MA 200 H1 followed by fall to $0.6870 (Jan 19 low).

  • 06:40

    Gold is trading near the April 2022 highs

    Yesterday, the XAU/USD traded in different directions in the range of $1911-$1935 and closed the day without significant changes. Today, gold was also trading in a tight range of $1930-36, staying close to the April 2022 highs. On the hourly chart, XAU/USD is still trading above the MA (200) H1 ($1910) moving average line. 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 while gold 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: $1937, $1955, $1981

    • Support levels are at: $1919, $1911, $1906

    Probably, the main scenario is the continuation of the upward movement to $1937 (Jan 20 high).

    The alternative scenario is a break of the MA 200 H1 level, followed by a fall to $1867 (Jan 11 low).


  • 06:17

    Oil trades near December highs

    Yesterday, Brent crude traded higher and closed the day in the positive territory around $88.05. Today oil traded in a narrow range of $88.00-30, staying close to the December highs. On the hourly chart, Brent is still trading above the MA (200) H1 moving average line ($84.70). 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 Brent 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: $89.05-50, $90.20, $91.20

    • Support levels are at: $86.85, $85.50, $83.35-70

    Probably, the main scenario is continued growth towards $89.05 (Jan 23 high).

    The alternative scenario suggests consolidation below the MA 200 H1 followed by a fall to $78.80 (Jan 10 low).

  • 06:00

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

    Yesterday the USD/JPY traded higher and closed the day in the positive territory near the price of Y130.65. Today it, on the contrary, fell a little, dropping to the level of Y130.15. On the hourly chart, USD/JPY is testing resistance - the moving average line MA (200) H1 (Y129.25). 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: Y130.90, Y131.60, Y131.90

    • Support levels are at: Y129.60, Y129.05, Y128.75

    Probably, the main scenario is the resumption of the downward movement to Y129.60 (the low of the European session on Jan 23).

    The alternative scenario is fixing above MA 200 H1, followed by a rise to Y132.85 (Jan 11 high).

  • 05:33

    The USD/CHF is testing the MA 200 H1 resistance

    Yesterday the USD/CHF traded higher and closed the day in the positive territory near the price of Chf0.9220. Today it was trading in a narrow range of Chf0.9205-20, remaining close to yesterday's closing price. On the hourly chart, USD/CHF is testing resistance - the moving average line MA (200) H1 (Chf0.9225). On the four-hour chart, it 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/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: Chf0.9240-45, Chf0.9275-85, Chf0.9315

    • Support levels are at: Chf0.9160, Chf0.9140, Chf0.9085

    Probably, the main scenario is a renewed fall towards Chf0.9160 (Jan 23 low).

    The alternative scenario is final consolidation above MA 200 H1, followed by growth towards Chf0.9405 (Jan 6 high).

  • 05:16

    The GBP/USD is trading near a 6-week low

    Yesterday the GBP/USD traded in different directions in the range of $1.2325-$1.2445 and closed the day without significant changes. Today it also traded in a tight range of $1.2370-90, staying near a 6-week low. On the hourly chart, the GBP/USD is still trading above the MA (200) H1 moving average line ($1.2285). 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: $1.2430-45, $1.2515, $1.2555

    • Support levels are at: $1.2315-25, $1.2255, $1.2150-65

    Probably, the main scenario is continued growth to $1.2430 (the high of the European session on Jan 23).

    The alternative scenario is consolidation below the MA 200 H1 level, followed by a fall to $1.2080 (Jan 12 low).

  • 04:57

    The EUR/USD remains above MA 200 H1

    Yesterday the EUR/USD traded in different directions in the range of $1.0845-$1.0925 and closed the day without significant changes. Today it was also trading in a narrow range of $1.0865-80, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading above the moving average line MA (200) H1 ($1.0825). 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 EUR/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: $1.0925-35, $1.0990, $1.1055

    • Support levels are at: $1.0845, $1.0800, $1.0785

    Probably, the main scenario is continued growth towards $1.0925 (Jan 23 high).

    The alternative scenario is consolidation below MA 200 H1, followed by fall to $1.0710 (Jan 10 low).


Market Focus

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.

Open Demo Account
I understand and accept the Privacy Policy and agree that my name and contact details can be used by TeleTrade to contact me about the information I have selected.
23 International Awards
Have a question?

We are ready to assist you in every step of your trading experience
by providing 24/5 multilingual customer support.

Follow us

Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. 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. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.

© 2011-2023 Teletrade-DJ International Consulting Ltd

This website is operated by Teletrade-DJ International Consulting Ltd, which is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11. Teletrade-DJ International Consulting Ltd is located at 88, Arch. Makarios Avenue, 2nd floor, Nicosia Cyprus.

The company operates in accordance with the Markets in Financial Instruments Directive (MiFID).

The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Teletrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.

Please read our full Terms of Use.

To maximise our visitors' browsing experience, TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies.

Teletrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.

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.

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.
Choose your language/location