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Technical Analysis
Tuesday 9th February 2021: Technical Outlook and Review

On the H4 timeframe, prices are testing our short term resistance area at 1.20569 which coincides with our descending trend line, 78.6% fibonacci extension and 50% fibonacci retracement as well as the graphical resistance area.

By IC Markets Global

Technical Analysis
Friday 5th February 2021: Technical Outlook and Review

Looking at the weekly chart, we can see that prices are still in an uptrend and are approaching our key support level at 1.19162 which can be found on the weekly and daily time frame. This level also coincides with our 61.8% fibonacci retracement and graphical support area.

By IC Markets Global

Technical Analysis
Thursday 4th February 2021: Technical Outlook and Review

Looking at the weekly chart, we can see that prices are still in an uptrend as it trades between our weekly supply area at 1.2420 - 1.2214 and weekly support at 1.20000. The weekly support level also coincides with the 2018 yearly opening level.

By IC Markets Global

Technical Analysis
Wednesday 3rd February 2021: Technical Outlook and Review

On the weekly timeframe, USD/CHF continues to be on a steady downtrend as it holds below the descending trend line resistance on Wednesday. Price is edging closer to the horizontal pullback resistance level at 0.90140 which had held as a support level before price broke through in December 2020.

By IC Markets Global

Technical Analysis
Tuesday 2nd February: Daily Technical Outlook and Review

On the daily time frame, prices are seeing limited upside, echoing the same view on the weekly time frame. There was a reversal below the daily resistance at 1.37630 although the uptrend remains intact as prices are holding nicely above the ascending trend line seen on the daily chart.

By IC Markets Global

Technical Analysis
Monday 1st February: Weekly Technical Outlook and Review

Trend studies reveal upside has remained favoured since price bottomed at 1.0637 in March 2020, movement which eventually overthrew trend line resistance, extended from the high 1.2555. For that reason, long-term dip-buyers may surface from 1.2004 if tested.

By IC Markets Global

Technical Analysis
Friday 29th January: Technical Outlook

Amidst a broadly weak USD (a reaction to risk), Europe’s single currency clawed higher on Thursday. This followed Wednesday’s hammer pattern that whipsawed through 1.21 into the jaws of H4 demand at 1.2040-1.2064

By IC Markets Global

Technical Analysis
Thursday 28th January: Technical Outlook

Key risk events today: US Advance GDP q/q; US Advance GDP […]

By IC Markets Global

Technical Analysis
Wednesday 27th January: Technical Outlook

Despite price recently consolidating gains, the weekly timeframe shows AUD/USD has scope to reach as far north as resistance at 0.8127. In order to climb, however, daily Quasimodo resistance at 0.7784 must be conquered (shines the spotlight on another daily Quasimodo resistance at 0.7893).

By IC Markets Global