Forecasts For: EUR/USD, AUD/USD, GBP/CAD and NZD/CHF

EUR/USD at a strong resistance level
Over the past two months, EUR/USD has been moving steadily from the strong resistance level of 1.19 to the support line and back. Now the price is actually in a small uptrend and is approaching the resistance level. But since the price did not show any major breakdowns during these two months, there is no reason to suppose that it will break the level now. I expect EUR/USD to return to the support line and try to break it. Thus, the target is the support line at 1.175.


AUD/USD: getting ready for a sell trade opening
After the collapse in March 2020, the AUD/USD price has shown a good growth in an uptrend. But now it has come close to the strong resistance level of 0.7372. Furthermore, AUD/USD shouldn't be expected to be able to break this level and continue to grow. Thus, the price is supposed to work out a small correction to the support line 0.7134. Besides, this segment is an optimal solution for opening a sell trade.


GBP/CAD: What to expect?
After a fast growth in July, GBP/CAD had been moving beyond the 1.727 resistance line for almost two months, but in early September changed its trend to a falling one and came to the support line at 1.685. The price could be expected to break the support line. But GBP/CAD couldn't do this and started an uptrend. Bearing this fact in mind, the price will be predicted to reach the resistance line 1.729 and then return to the support line. The ultimate target in this case is the support line 1.688.

NZD/CHF: + 140 pips
NZD/CHF tried to break through the resistance line back in July, but failed to do so. And now, on the ten-hour TF, it is clear that the price has finally broken out of the 0.613 support line and started to rise in an uptrend. Moreover, NZD/CHF has every reason for a strong growth. Therefore, I expect it to be able to break through the next line at 0.629 in future.



Please, pay your attention! Financial market forecasts are authors' private opinions. The current analysis is not intended to be a trading guide. The author is not responsible for the results of work that may arise when using trading recommendations from the forecasts presented.