Key Levels Being Tested For Both U.S. And Canadian Dollar

• 2 Nov 2017

USD/JPY

The USD/JPY pair is testing the 113.99 price level having struggled to break above the previous price high. RSI indicates that downward momentum is underway, with volume rising into the move. A candle closing both below the 113.99 price level and the 70 line on RSI would confirm the downtrend.

CAD/CHF

The CAD/CHF pair is on the verge of breaking the 0.778 price level with MACD indicating a potential break below the zero line. RSI confirms that momentum has become more bearish and rising volume indicates interest in the pair. A break below the 0.778 price level should send price action towards the 0.770 price level.

SILVER

Silver prices have continued their advance and are now testing the 17.11 price level. Whether price action is able to approach the next resistance level at the 17.37 price level remains to be seen, as momentum indicators suggest that sentiment is bearish or neutral. A close above or below the 17.11 price line will dictate price direction in the near term.

AUD/USD

The AUD/USD pair has broken the 0.768 price level with RSI confirming that momentum has turned sharply bullish after hitting the 30 oversold line.  If the current candle closes above the 0.768 price level and above 30 on RSI, an uptrend is confirmed.