Technical Analysis
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| EUR/USD | |||
| Previous Day Range | High: 1.1113 | Low: 1.1062 | Close: 1.1080 |
| Technical Chart | Resistance R-2: 1.1136 R-1: 1.1108 |
Support S-1: 1.1057 S-2: 1.1034 |
Forecast High: 1.1108 Low: 1.1057 |
| No change in EUR/USD’s outlook, with 1.1130 minor resistance intact, further decline is expected in for 1.1026 low. Decisive break there will extend the downtrend from 1.2555. On the upside, above 1.1130 minor resistance will turn intraday bias back to the upside to extend the correction from 1.1026. But in that case, we’d expect strong resistance from 1.1249 to limit upside. | |||
| USD/JPY | |||
| Previous Day Range | High: 106.65 | Low: 106.23 | Close: 106.41 |
| Technical Chart | Resistance R-2: 106.85 R-1: 106.63 |
Support |
Forecast High: 106.63 Low: 106.21 |
| Intraday bias in USD/JPY remains neutral as consolidation from 105.04 could extend further. Near term outlook stays bearish as long as 107.09 resistance holds. On the downside, break of 105.04 will resume larger fall from 112.40 to 104.69 low. Break will target 100% projection of 112.40 to 106.78 from 109.31 at 103.69. On the upside, though, break of 107.09 resistance will indicate short term bottoming. In this case, stronger rebound would be seen back to 55-day EMA (now at 107.62). | |||
| GBP/USD | |||
| Previous Day Range | High: 1.2273 | Low: 1.2105 |
Close: 1.2252 |
| Technical Chart | Resistance R-2: 1.2378 R-1: 1.2315 |
Support S-1: 1.2147 S-2: 1.2042 |
Forecast High: 1.2315 Low: 1.2147 |
| GBP/USD’s strong rise and break of 1.2209 minor resistance suggests short term bottoming at 1.2014. Intraday bias is back on the upside for 55-day EMA (now at 1.2380) and above. But upside should be limited by 38.2% retracement of 1.3381 to 1.2014 at 1.2536. On the downside, break of 1.2108 minor support will turn bias to the downside for 1.2014. Break will resume larger decline for 1.1946 low. | |||
| USD/CHF | |||
| Previous Day Range | High: 0.9844 | Low:0.9810 | Close: 0.9838 |
| Technical Chart | Resistance R-2: 0.9865 R-1: 0.9851 |
Support S-1: 0.9817 S-2: 0.9797 |
Forecast High: 0.9851 Low: 0.9817 |
| Intraday bias in USD/CHF remains mildly on the upside. Current recovery from 0.9659 should target 55-day EMA (now at 0.9856). Sustained break will target 0.9975 resistance. On the downside, break of 0.9773 minor support will suggest completion of recovery from 0.9659. Intraday bias will be turned back to the downside for retesting 0.9659 first. | |||
| AUD/USD | |||
| Previous Day Range | High: 0.6787 | Low: 0.6747 | Close: 0.6755 |
| Technical Chart | Resistance R-2: 0.6803 R-1: 0.6779 |
Support S-1: 0.6739 S-2: 0.6723 |
Forecast High: 0.6779 Low: 0.6739 |
| AUD/USD is staying in consolidation from 0.6677 and intraday bias remains neutral first. On the upside, break of 0.6822 will extend the corrective rebound from 0.6677. But upside should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618. | |||
| USD/CAD | |||
| Previous Day Range | High: 1.3315 | Low: 1.3271 | Close: 1.3300 |
| Technical Chart | Resistance R-2: 1.3339 R-1: 1.3320 |
Support S-1: 1.3276 S-2: 1.3251 |
Forecast |
| Intraday bias in USD/CAD remains neutral at this point. Consolidation from 1.3345 could extend with another decline. But further rally is expected as long as 1.3177 support holds. On the upside, break of 1.3345 will extend the rebound from 1.3016 to 1.3564/3664 resistance zone. On the downside, however, break of 1.3177 support will turn bias back to the downside for retesting 1.3016 low instead. | |||
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