Ethereum (ETHUSD) may rise again if it breaches $1,800, with targets at $1,900. USDCHF is bullish but needs to stay above 0.8240 to hit 0.8380. NZDUSD is correcting but may recover if it holds at 0.5940, aiming for 0.6030. AUDUSD settles above 0.6390, yet caution is needed due to RSI warnings.
Ethereum (ETHUSD) has seen a dip in recent trading, suggesting it might be gearing up for a boost. This potential rally stems from a bullish correction trend observed in the short term. The cryptocurrency is interacting with a trendline and remains supported by trading above the EMA50, with positive signals emerging on the RSI after reaching oversold conditions.
Looking ahead, ETHUSD is anticipated to make gains in the near term if it can break through the initial resistance level at $1,800. Should it succeed, the next target would be $1,900. For trading today, the forecasted range is from the support at $1,700 up to the resistance at $1,860. For traders seeking guidance, the Economies.com VIP Club offers expert analysis and insight into market movements, alongside special promotional offers for new members.
Meanwhile, the USDCHF has experienced a rise in its recent intraday trading, bolstered by a consistent positioning above the EMA50 and a bullish correction wave in the short term. This upward momentum follows its previous colouration of a bearish trend line and has begun shedding overbought conditions indicated by the RSI.
Expectations for the USDCHF are optimistic, resting on its ability to maintain stability above 0.8240. If it can hold this level, the next resistance of 0.8380 may be on the horizon. The expected trading range for this pair lies between 0.8200 support and 0.8380 resistance. Similarly, those looking to refine their trading strategies may find value in joining the Economies.com VIP channel for exclusive resources, including a free subscription to a trusted trading signals channel.
Switching focus to NZDUSD, this currency pair slipped slightly in its last trading session, but this is considered a corrective move to consolidate prior gains and potentially set the stage for future recovery. The RSI signals have turned overbought, signalling possible pressures, but the overall outlook remains bullish, propped up by trading above EMA50 and maintaining a positive trend.
Future movements for NZDUSD are contingent upon the support level holding at 0.5940. Should this support sustain, a move toward the key resistance level at 0.6030 is within reach. Today’s expected trading range is between 0.5955 and 0.6030. Again, analysts can enhance their trading techniques through Economies.com, which boasts over 15 years of market analysis expertise.
Lastly, the AUDUSD has shown signs of strength in its latest trading, once again settling above the critical resistance point of 0.6390. This might indicate a bounce-back potential, despite the reiteration of a bullish trend over the short term.
Nevertheless, caution is advised as RSI indicators show signs of overbought territory, hinting at possible deceleration in upward momentum. The AUDUSD’s stability above 1.6390 could provide a supportive outlook for targeting the next resistance at 0.6500, while being mindful of any corrections from current overbought conditions. The anticipated trading range for the day is between 0.6330 support and 0.6460 resistance. And, of course, Economies.com VIP Club is there to furnish you with insights and trading tips from seasoned experts.
