XAUUSD is approaching its support at 1267.64 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1285.80 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.6% where a corresponding bounce could occur.
CADJPY is approaching its resistance at 81.59 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 81.15 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.
USD/CAD:
The USD/CAD preserved a strong bid Wednesday, surging through 1.35 to fresh multi-month tops at 1.3546. The Canadian Dollar remained on the defensive after the Bank of Canada (BoC) decided to leave benchmark interest rates unchanged at 1.75%.
Since the latter part of April, the H4 candles have been busy carving out a 100-point+ range between May’s...
AUDNZD is approaching its resistance at 1.0597 (100% & 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 1.0575 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal is expected.
AXY is approaching its resistance at 7.0081 (100% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 6.9768 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal is expected.
AUDCAD is approaching its resistance at 0.9370 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.9321 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
USDCAD is approaching its resistance at 1.3522 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 1.3452 (76.4% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal is expected.
AUDCAD is approaching its resistance at 0.9327 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.9274 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reversal is expected.
EURCAD is approaching its support at 1.4989 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.5078 (50% Fibonacci retracement, horizontal swing high sresistance).
Stochastic (55, 5, 3) is approaching its support at 3.5% where a corresponding bounce could occur.
AUDUSD is approaching its resistance at 0.6933 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 0.6902 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal is expected.
EURNZD is testing its ascending support line. If it breaks out of its ascending line and its 1st support at 1.7029 (61.8% Fibonacci extension), then it could confirm a further move down to its 2nd support at 1.6943 (100% Fibonacci extension, 50% Fibonacci retracement).
Ichimoku cloud shows signs of downward pressure as well.
AUDNZD bounced nicely off its support at 1.0548 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.0597 (horizontal swing high resistance).
Stochastic (89, 5, 3) is bounced off near its support at 3.4% where a corresponding rise could occur.
NZDUSD is approaching its resistance at 0.6586 (100% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.6486 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 89% where a corresponding reversal is expected.
AUDUSD is approaching its resistance at 0.6965 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.6904 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 94% where a corresponding reversal is expected.
EURUSD bounced nicely off its support at 1.1140 (100% & 61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1.1167 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is bounced off near its support at 4.6% where a corresponding rise could occur.
BCOUSD is approaching its support at 69.61 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 71.55 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its support at 5.2% where a corresponding bounce could occur.
AUDUSD is testing its support at 0.6869 where if broken, it could potentially fall further to its next support.
Ichimoku cloud shows signs of bearish pressure.
USD/JPY:
In recent sessions, the market observed the USD/JPY put in a mild top as risk sentiment turned somewhat sour. Across the board, major US equity indexes recorded losses, as well as the US Treasury 10-year note losing more than 1.80% on the day.
In view of the technical landscape, the H4 picture reveals price action remains within an ascending channel...
