Not feelin’ like trading the U.S. dollar today?

I gotchu!

Take a have a look at EUR/CAD and GBP/CHF are hitting key support levels:

EUR/CAD 4-hour Forex Chart by TradingView

EUR/CAD just registered one other higher high after bouncing from the 1.4360 zone!

Does this mean that EUR/CAD’s uptrend continues to be valid?

The pair’s bounce from the 4-hour chart’s ascending channel says YOU BET.

Before you aim for previous highs like 1.4650, nevertheless, you need to also note that EUR/CAD hasn’t passed key resistance levels yet.

I’m talking concerning the mid-channel line near the 100 and 200 SMAs!

Stochastic can also be favoring EUR bears immediately with an “overbought” signal on the chart.

Keep watch over the subsequent candlesticks for the pair’s direction. A break above the SMAs could push the pair to 1.4600 and beyond, while a rejection from the 1.4450 zone might force one other retest of the channel support.

GBP/CHF Day by day Forex Chart by TradingView

Looks just like the 1.1000 support held for one more day!

GBP/CHF found a pair more buyers on the support zone that hasn’t been broken since late 2022.

The bounce from 1.1000 may lead to a variety support opportunity as GBP/CHF heads for the 1.1250 – 1.1350 previous areas of interest.

Clear and consistent trading above the 100 and 200 SMAs opens GBP/CHF to a move to the 1.1550 range resistance level.

The pair could even aim for a longer-term trend line resistance if there’s enough momentum!

But when GBP/CHF fails to get past the 100 SMA, then there’s a likelihood that the pair could retest after which break below the 1.1000 support.