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I’ve got a mix of range and reversal setups on today’s canvas!

Check out these potential inflection points on the 4-hour charts of EUR/CHF and AUD/CAD.

AUD/CAD: 4-hour

AUD/CAD 4-hour Forex Chart

AUD/CAD 4-hour Forex Chart

This pair has been pacing back and forth between support at .8925 and resistance around .9115. Another bounce off the top just took place, so price might be setting its sights back on the bottom.

Will buyers return soon?

Technical indicators seem to be suggesting so, as Stochastic is reflecting oversold conditions or exhaustion among sellers. Pulling higher would signal that bulls are charging again and could attempt another test of resistance.

Moving averages seem to be less decisive, though, as the 100 SMA is struggling to stay above the 200 SMA.

If it manages to do so, more buyers could hop in and maybe even allow the .9000 major psychological mark to keep losses in check.

Just watch out for the near-term dynamic resistance at the moving averages!

EUR/CHF: 4-hour

EUR/CHF 4-hour Forex Chart

EUR/CHF 4-hour Forex Chart

Who’s up for a break-and-retest play?

EUR/CHF recently busted through its ascending trend line to indicate that a reversal from the uptrend is in the works. The pair might still need a quick retest of the broken support to gather more selling pressure.

Using the handy-dandy Fib tool on the breakout move shows that the 50% level is closest to the former trend line near the 1.0300 handle.

A higher pullback could reach the 61.8% Fib at 1.0360 while a shallow correction could already find bears at the 38.2% level or 1.0260.

Stochastic is already turning lower to hint that sellers are ready to take over and drag EUR/CHF back down to the swing low near the 1.0100 mark. To top it off, the 100 SMA is already below the 200 SMA to confirm that the selloff is likely to gain traction.

Oh, and don’t forget that these moving averages are near the area of interest at the broken trend line to add to its strength as a ceiling!