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A technical look at some of the major currency pairs heading into the new trading week
In the video above, I take a deep dive into some of the major currency pairs from a technical perspective as the week comes to a close and the new week and month starts.
In the video, I take a look at the:
- EURUSD
- GBPUSD
- USDJPY
- USDCHF
- USDCAD and
- AUDUSD
Prepare for the new week with a clear understanding of the bias,, the risks and the targets.
This article was written by Greg Michalowski at investinglive.com. -
AUDUSD Technicals: AUDUSD closing with a more bullish bias. What would tarnish the bias?
As the trading week comes to a close, the AUDUSD is higher on the week and continues to trade above a key cluster of moving averages, including the 100-hour moving average at 0.7093, the 200-hour moving average at 0.7078, and the 100-bar moving average on the 4-hour chart at 0.7070.
Holding above this moving average cluster keeps buyers firmly in control. A move below would begin to tilt the short-term bias to the downside, but sellers would still have additional work to do to fully shift momentum.
More specifically, the price would need to break and remain below the early-February lows between 0.7014 and 0.7025. That zone has repeatedly acted as a floor — serving as support this week, last week, and previously on February 9 — making it a key downside control level. A sustained move below that area would strengthen the bearish case materially.
On the topside, the February high at 0.7146 came within 11 pips of the February 2023 high at 0.7157. These levels represent the immediate upside targets heading into the new trading week. A break above this resistance zone would open the door for further upside momentum and a broader bullish extension.
This article was written by Greg Michalowski at investinglive.com. -
Nasdaq Technicals: Nasdaq index failed to extend above key MAs. Bias is lower.
The NASDAQ index pushed to a high on Monday but failed to extend above its falling 100-hour moving average, a rejection that triggered a sharp move lower. The decline reached Tuesday’s weekly low near 22,193, aligning with the top of a key swing support area.
A subsequent rebound carried the index back above the 100-hour moving average, briefly increasing the bullish bias. However, momentum stalled at the 200-hour moving average, where buyers turned into sellers, leading to another sharp decline yesterday. Today, downside pressure continues, with the index trading lower by roughly 0.8%.
What comes next?
For buyers to regain control, the price must move back above and hold the 100-hour moving average near 22,851. Even then, upside momentum would still need confirmation through a break above the falling 200-hour moving average at 23,117, which remains the key technical pivot.
On the downside, initial support comes in near 22,461, the low from last week. Below that level lies a broader swing support zone between 21,949 and 22,461. The lower boundary of this area also aligns with the 38.2% retracement of the rally from the May 23, 2025 low, increasing its technical importance.
Sellers hold the near-term advantage, but additional downside progress is still needed to strengthen the bearish bias. For now, the 200-hour moving average remains the key pivot, separating a more bearish outlook from a potential return to bullish momentum.
This article was written by Greg Michalowski at investinglive.com. -
USDCAD Technicals: USDCAD extends to new lows for the day and tests the low for the week
The USDCAD moved lower in the latest hourly bar, testing Monday’s low near 1.3649. The break lower has been modest so far, but sellers remain in control as downside pressure persists.
Earlier in the session, the pair briefly moved higher following the PPI release, but that rally quickly faded after the price tested the 100-hour moving average at 1.3686, which was closely aligned with the 200-hour moving average near 1.3680. The failure against this moving average cluster reinforced resistance and helped trigger the renewed move lower.
For buyers to regain control, the price must break and hold above both the 100- and 200-hour moving averages. Until that occurs, the technical bias remains tilted toward the downside.
On the downside, a sustained move below Monday’s low at 1.3649 would open the door for further selling, targeting 1.3630 initially, followed by a broader swing support zone from mid-February surrounding the 1.3600 level.
Sellers are now pressing their advantage. The key question is whether they can maintain momentum and expand what has been a relatively tight trading range for the week.
This article was written by Greg Michalowski at investinglive.com. -
USDCHF Technicals: USDCHF moves lower to a new low for the week
The USDCHF is moving lower in North American trading, pressured by a softer US dollar backdrop as risk sentiment deteriorates. US equities opened sharply lower, with the S&P 500 down 0.78% and the NASDAQ falling 1.08%. At the same time, US yields are declining despite higher-than-expected PPI data, signaling markets are looking past inflation strength for now. The 10-year yield is down 4.2 basis points, with the 2-year yield lower by a similar amount.
Technical picture
From a technical perspective, today’s upside attempt stalled near the converged 100- and 200-hour moving averages around 0.7740, where sellers stepped in decisively. That rejection gave sellers the green light, with downside momentum beginning late in the European morning session and extending into early US trading.
The pair is now testing a lower channel trendline and swing support near 0.7692. A sustained break below this level would increase the bearish bias and shift focus toward the February 12–13 swing lows near 0.7669. Below that, the next downside targets come in at the January 28 and February 10 swing lows around 0.7629.
What would disappoint sellers?
A move back above 0.7708, defined by swing lows from Monday and yesterday’s trading, would weaken the immediate bearish momentum. A break above that level could trigger short covering and open the door for a rotation back toward the converged 100- and 200-hour moving averages near 0.7740.
This article was written by Greg Michalowski at investinglive.com.