Technical Analysis
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| EUR/USD | |||
| Previous Day Range | High: 1.1196 | Low: 1.1113 | Close: 1.1165 |
| Technical Chart | Resistance R-2: 1.1241 R-1: 1.1203 |
Support S-1: 1.1120 S-2: 1.1075 |
Forecast High: 1.1203 Low: 1.1120 |
| EUR/USD’s rally resumed after brief retreat and hits as high as 1.1187. 61.8% retracement of 1.1496 to 1.0635 at 1.1167 is breached and is now the focus. Sustained trading above there will pave the way to retest 1.1496 key resistance. On the downside, a break of 1.1081 minor support will suggest rejection by 1.1167 and turn bias to the downside for 1.1108 support first. | |||
| USD/JPY | |||
| Previous Day Range | High: 108.77 | Low: 107.48 | Close: 108.68 |
| Technical Chart | Resistance R-2: 109.60 R-1: 109.14 |
Support |
Forecast High: 109.14 Low: 107.85 |
| USD/JPY’s rise from 105.98 resumed by breaking 108.08 resistance. Intraday bias is back on the upside for 109.38 resistance first. Corrective fall from 111.71 should have completed at 105.98 already. Break of 109.38 will target a test on 111.71 high. On the downside, a break of 107.08 support will turn bias back to the downside for retesting 105.98 low instead. | |||
| GBP/USD | |||
| Previous Day Range | High: 1.2575 | Low: 1.2476 |
Close: 1.2550 |
| Technical Chart | Resistance R-2: 1.2633 R-1: 1.2591 |
Support S-1: 1.2492 S-2: 1.2435 |
Forecast |
| Intraday bias in GBP/USD remains on the upside at this point. The whole rally from 1.1409 might be resuming. Break of 1.2647 resistance will confirm at target 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. On the downside, however, below 1.2375 minor support will turn bias back to the downside for 1.2065 instead. | |||
| USD/CHF | |||
| Previous Day Range | High: 0.9637 | Low:0.9569 | Close: 0.9624 |
| Technical Chart |
Resistance |
Support S-1: 0.9583 S-2: 0.9542 |
Forecast High: 0.9651 Low: 0.9583 |
| Intraday bias in USD/CHF is turned neutral with 4-hour MACD crossed above the signal line. The further decline will remain in favor as long as 0.9736 resistance holds. Corrective patterns from 0.9901 could still extend lower and a break of 0.9573 will target 0.9502 support. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, the break of 0.9736 resistance will turn bias back to the upside instead. | |||
| AUD/USD | |||
| Previous Day Range | High: 0.6897 | Low: 0.6771 | Close: 0.6896 |
| Technical Chart |
Resistance |
Support S-1: 0.6812 S-2: 0.6729 |
Forecast High: 0.6938 Low: 0.6812 |
| Intraday bias in AUD/USD remains on the upside at this point. A decisive break of 0.6826 will carry larger bullish implications. Rise from 0.5506 should target 0.7031 resistance next. On the downside, though, a break of 0.6567 support will indicate rejection by 0.6826. Intraday bias will be turned back to the downside for 0.6402 support instead. | |||
| USD/CAD | |||
| Previous Day Range | High: 1.3585 | Low: 1.3475 | Close: 1.3515 |
| Technical Chart | Resistance R-2: 1.3635 R-1: 1.3575 |
Support S-1: 1.3465 S-2: 1.3415 |
Forecast |
| USD/CAD’s decline from 1.4667 accelerated to as low as 1.3545 so far today. Intraday bias remains on the downside at this point. The next near term target is a 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236. On the upside, the break of 1.3832 resistance is needed to indicate short term topping. Otherwise, outlook will stay mildly bearish in case of recovery. | |||
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