Technical view following FOMC minutes
Charts: trading view
(Italics: previous analysis)
EUR/USD technical analysis:
After seeing the daily price stay north of the pandemic low of $1.0638 (March 2020), in addition to the weekly time frame demonstrating the possibility of approaching Quasimodo’s support-turned-resistance at $1.0778, H1 Quasimodo support turned Support at $1.0631 could be one area the charts are seeing buyers show interest in, if tested. The noted H1 channel support, of course, is H1 channel support, extended from the low of $1.0349, with a 50% retracement at $1.0639 and a 38.2% Fibonacci retracement. .
However, it is important to note that for the H1 support to take effect, the H4 demand facing supply at $1.0655-1.0632 must have its lower edge taken.
AUD/USD technical analysis:
This remains a seller’s market depending on the direction of the trend, casting a favorable light on daily resistance at $0.7170, which hosts a 78.6% Fibonacci retracement at $0.7174 and a 38 Fibonacci retracement. .2% to $0.7149.
The support turned resistance of the H4 trendline, taken from the high of $0.7661, is currently serving the buyers relatively well. Although $0.71 on the H1 chart should offer near-term resistance, helped by a 100% Fibonacci projection at $0.7102 and a support-turned-resistance trendline from the $0.6829 low, buying H4 could be problematic.
In light of the current trend, $0.71 offers sellers immediate resistance, with a breakout illuminating daily resistance at $0.7170.
USD/JPY Technical Analysis:
The secondary correction on the weekly timeframe shows that it is possible to extend the losses to the support from ¥125.54. After noting the possibility of discovering deeper waters across the board and H4 price resistance at ¥127.44, follow-up selling towards ¥126.00 (H4 double top profit target) could be seen.
GBP/USD technical analysis:
All eyes remain on the weekly and daily resistance levels at $1.2719 and $1.2762, respectively.
Further down the curve, H4 resistance is also in the spotlight between $1.2686 and $1.2614, which may be enough to attract a decline before reaching higher resistances, if only for a while. brief period.
Note that this H4 resistance zone is also located just above $1.26 on the H1 scale – stop-run? A jigsaw above $1.26 that marks the H4-rated resistance zone could therefore be a setup that encourages a short-term bearish scene.
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