A Mixed Bag For European Currencies On Wednesday

• 18 Apr 2018

SILVER

Silver has broken above the high price SMA channel, with the first candle closing above the SMA in recent months. The SMA has been acting as a resistance level. RSI indicates further upside potential and MACD has broken the zero line to the upside.

USD/CAD

The U.S. Dollar has weakened against the Canadian Dollar and is now testing the 1.255 price level. The next price target for sellers is the 1.241 price level, however, RSI shows that the pair has flattened in oversold conditions.

Impact event: Bank Of Canada Interest Rate Decision will be released at 17:00 GMT+2 and will impact all CAD pairs.

AUD/CHF

The AUD/CHF pair has broken the 0.746 price level, yet has reached oversold conditions, as RSI hits the 70 resistance line and the pair continues to touch the upper Bollinger band.

EUR/GBP

The EUR/GBP pair has broken the lower Bollinger band to the upside for the first time in the last few trading sessions. RSI has reached the 30 support line and MACD has stalled in bearish territory.

Impact event: Both U.K. and Eurozone CPI data will be released later today from 11:30 GMT+3 and will impact all EUR and GBP pairs.