Swiss rate decision: Thursday, 8:30. The Swiss National Bank shocked the world when it abandoned the peg in January 2015. Since then, the SNB maintained its negative deposit rate of -0.75% and pledges to intervene in currency markets whenever necessary. In the quarterly Libor Rate Decision, the team led by Thomas Jordan is unlikely to stray from that path in this decision. The Swiss franc has recently attracted safe-haven flows, but the moves have probably not caused too many worries for the SNB, especially as things calmed down afterward.
CHF
Swiss rate decision
- EURUSD
Update: The pair started going down. The pair managed to break an uptrend line that shown on the chart in red. The pair is testing the broken level now and the expected scenario is that if the pair shows some negative factors below the broken level, we may go short targeting the level of 1.22 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2530 ▪ — ▪ — |
▪ 1.22 ▪ 1.21 ▪ 1.1550 |
We are bearish as long as the pair is traded below the broken uptrend line. |
- GBPUSD
Update: We remain the same. The pair managed to break through a descending channel but the break isn’t confirmed yet. So, a daily close above the upside of the channel will confirm the breakout of the channel and would open the door for further upward movement during the week that it may reach the level of 1.42.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.4200 ▪ 1.4100 ▪ — |
▪ 1.3800 ▪ 1.3700 ▪ 1.3600 |
Waiting for the pair to confirm the breakout of the channel. |
- GOLD
Update: We remain the same. The pair is traded above strong support levels that could be found at 1310 to 1300. So, we are bullish as long as the pair is traded above it. Our first target is: 1350.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ — ▪ — |
▪ 1310 ▪ 1300 ▪ 1290 |
We are bullish as long as the pair is traded above the level of 1300. |
- AUDUSD
Update: The pair started going down. As could be seen on the daily chart that the pair is heading towards the level of 0.7900. This is where we can go short that in case the pair shows some negative factors, we can go short targeting the level of 0.7800 followed by 0.7750 during the week. On the other hand, breaching the level of 0.79 can open the door for further upward movement during the week that it may reach the level of 0.80 followed by 0.8050 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.8000 ▪ 0.7900 ▪ — |
▪ 0.7700 ▪ 0.7600 ▪ 0.7500 |
Waiting for the pair to reach the level of 0.79. |
- GBPJPY
Update: The pair started going down. The pair managed to break the downside of the descending channel. The pair now is testing the broken level so we may go short if the pair shows some negative factors below the level, so we can target the level of 146 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 |
▪ 147 ▪ 146 |
We are bearish as long as the pair is traded below the |
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