Technical Analysis
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| EUR/USD | |||
| Previous Day Range | High: 1.1046 | Low: 1.0989 | Close: 1.1033 |
| Technical Chart | Resistance R-2: 1.1080 R-1: 1.1056 |
Support S-1: 1.0999 S-2: 1.0966 |
Forecast High: 1.1056 Low: 1.0999 |
| EUR/USD’s corrective recovery from 1.0879 might extend higher. But But upside should be limited by 1.1109 resistance to bring down trend resumption. On the downside, break of 1.0941 minor support should confirm completion of the recovery and turn bias to the downside for retesting 1.0879 low first. However, firm break of 1.1109 will be an early sign of medium-term bottoming and target 1.1412 key resistance next. | |||
| USD/JPY | |||
| Previous Day Range | High: 108.90 | Low: 108.12 | Close: 108.81 |
| Technical Chart | Resistance R-2: 109.39 R-1: 109.10 |
Support |
Forecast High: 109.10 Low: 108.32 |
| USD/JPY’s rally resumed after brief consolidations. Intraday bias is turned back to the upside. Current rise from 104.45 should target 109.31 key resistance first. Decisive break there will carry larger bullish implications next target will be 100% projection of 104.45 to 108.47 from 106.48 at 110.50. On the downside, below 108.15 minor support will turn intraday bias neutral first. | |||
| GBP/USD | |||
| Previous Day Range | High: 1.2800 | Low: 1.2600 |
Close: 1.2777 |
| Technical Chart | Resistance R-2: 1.2926 R-1: 1.2851 |
Support S-1: 1.2651 S-2: 1.2526 |
Forecast High: 1.2851 Low: 1.2651 |
| Intraday bias in GBP/USD remains on the upside for the moment. Rise from 1.1958 is targeting 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205 next. On the downside, below 1.2516 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.2195 support for another rally. | |||
| USD/CHF | |||
| Previous Day Range | High: 0.9996 | Low:0.9957 | Close: 0.9989 |
| Technical Chart | Resistance R-2: 1.0020 R-1: 1.0004 |
Support S-1: 0.9965 S-2: 0.9942 |
Forecast High: 1.0004 Low: 0.9965 |
| No change in USD/CHF’s outlook as it’s staying in consolidation from 1.0027. Intraday bias remains neutral for some more sideway trading. Further rise is expected as long as 0.9843 support holds. On the upside, break of 1.0027 will target 78.6% retracement of 1.0237 to 0.9659 at 1.0113 next. Break will target retest on 1.0237 high. | |||
| AUD/USD | |||
| Previous Day Range | High: 0.6788 | Low: 0.6739 | Close: 0.6753 |
| Technical Chart | Resistance R-2: 0.6809 R-1: 0.6781 |
Support S-1: 0.6732 S-2: 0.6711 |
Forecast High: 0.6781 Low: 0.6732 |
| Intraday bias in AUD/USD remains neutral and outlook is unchanged. Price actions from 0.6670 are seen as a corrective move. Above 0.6810 will bring another rise but should be limited by 0.6894 resistance to bring down trend resumption. On the downside, break of 0.6710 minor support will turn bias back to the downside for retesting 0.6670 low. | |||
| USD/CAD | |||
| Previous Day Range | High: 1.3239 | Low: 1.3191 | Close: 1.3202 |
| Technical Chart | Resistance R-2: 1.3259 R-1: 1.3230 |
Support S-1: 1.3182 S-2: 1.3163 |
Forecast |
| Intraday bias in USD/CAD remains neutral for brief consolidation above 1.3171 temporary low. Further decline is expected with 1.3268 minor resistance intact. Overall outlook is unchanged that corrective fall from 1.3382 is in the third leg and further decline is expected. On the downside, below 1.3171 will target 1.3133 and then 100% projection of 1.3382 to 1.3133 from 1.3347 at 1.3098 next. On the upside, above 1.3268 minor resistance will turn bias back to the upside for 1.3347/82 resistance zone instead. | |||
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