Hello Traders,
We are one Asian session shy away from mid-week over here.
How about you?
Alright, let’s waste no time hitting our charts…
1. USD/CHF
The USD/CHF on the daily chart has a bearish outlook as price level 0.99464 is a major resistance level.
On the 4 hour chart, we can see that price is currently holding on to support level 0.98935 of an ascending expanding channel.
There is a possibility for price to hit price level 0.99464 as the next possible resistance level if a bullish reversal is confirmed.
If a breakout occurs, we could also be seeing price visiting 0.98473 as the next possible support level.
2. EUR/AUD
EUR/AUD is currently on bullish steroids.
Monday and Tuesday Bulls squeezed out more than +100 pips from the market.
Presently price is testing resistance level 1.62154.
If a bullish breakout is confirmed, there is a possibility for the Bulls to push price to the next possible resistance level (1.64089) before the close of business on Friday.
If the daily candlestick closes with a bearish reversal (which I doubt), we could also be looking at price revisiting support level 1.60220
We are done with today’s market analysis, see you guys tomorrow
