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It’s all about support and resistance levels on today’s set!

Here are the areas of interest currently being tested on the short-term charts.

Check ’em while they’re fresh:

EUR/CHF: 1-hour

EUR/CHF 1-hour Forex Chart

EUR/CHF 1-hour Forex Chart

Bring it on, euro bears!

EUR/CHF has been cruising below a descending trend line since the start of the month and looks ready for another test of resistance.

Sellers might be waiting to hop in at the 61.8% Fibonacci retracement level, which is right smack in line with the trend line, 100 SMA dynamic inflection point, and former support zone.

Technical indicators are also pointing to a continuation of the slide, as the 100 SMA is below the 200 SMA while Stochastic is reflecting exhaustion among buyers.

Once the oscillator turns south, EUR/CHF might follow suit as bearish pressure picks up. Watch out for a dip back to the swing low around .9530 if that happens!

NZD/JPY: 4-hour

NZD/JPY 4-hour Forex Chart

NZD/JPY 4-hour Forex Chart

Here’s one for the Kiwi bulls out there!

NZD/JPY recently busted through the strong ceiling at the 86.00 major psychological mark then retreated upon hitting highs near 88.00.

The pair has since pulled back to the broken resistance, which now seems to be holding as a floor. This area of interest is also right around the dynamic inflection points at the moving averages, adding to its strength as support.

Are we about to see a bounce soon?

Stochastic is suggesting so, as the oscillator already reached the oversold region to show that sellers could use a break. If buyers take over, NZD/JPY could make its way back up to the recent highs.

Moving averages are also hinting at a bounce, as the 100 SMA is above the 200 SMA to confirm that buyers have the upper hand.

I’d look out for a break below the 200 SMA dynamic support, though, since this might mean the tide is turning in favor of Kiwi bears at that point.