Let’s kick things off with the EURUSD 1-hour chart. This pair has been stuck in a pretty solid range for almost a couple of weeks already! Resistance around the psychologically significant 1.5000 mark is holding up really well, seeing how the pair was unable to bust through it for the past four attempts. Support at 1.4825 is looking strong as well. With the stochastics climbing out of the overbought area, the pair might continue to edge lower. If it moves past the previous day low of 1.4890, it could bounce after hitting support at 1.4825 again. On the other hand, the pair make its fifth attempt of breaking the 1.5000 handle and maybe, just maybe, chalk up a breakout this time.
Heading over to the AUDUSD 1-hour chart… The pair has been trending lower lately, seeing how its highs can be connected by a neat descending trend line. It seems ready to retest the trend line yet again as the stochastics indicate that there could still be some buying pressure pushing the pair higher. Would it be able to break above the trend line this time? If it does, it could have difficulty going beyond the 0.9280 level, which is the previous day high. And let’s not forget that the psychological resistance at 0.9300 is just around the corner. If the falling trend line resistance proves to be unbreakable, the pair could slide all the way down to minor support at 0.9150 or even until the previous week low of 0.9060.
Next is the NZDUSD pair on the 4-hour chart. As seen above, the pair slipped all the way down to 0.7201 after breaking its uptrend line. Buying interests, however, kept it from falling further. The pair rallied back above 0.7350. Interestingly, this area happens to fall in line with the 50.0% Fibonacci retracement level that I drew. The pair dropped again after hitting some resistance at the mentioned level. As of writing, it is trading around 0.7250. 0.7315, which was a previous support, could now act as a resistance while the previous low at 0.7201 could also function as a minor support. The pair could head further south if it falls below 0.7201.