Technical Analysis
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| EUR/USD | |||
| Previous Day Range | High: 1.0821 | Low: 1.0775 | Close: 1.0785 |
| Technical Chart | Resistance R-2: 1.0840 R-1: 1.0812 |
Support S-1: 1.0766 S-2: 1.0748 |
Forecast High: 1.0812 Low: 1.0766 |
| A temporary low should be formed at 1.0777 in EUR/USD with today’s recovery. Intraday bias is turned neutral first some consolidations first. Upside of recovery should be limited well below 1.0992 support turned resistance. On the downside, break of 1.0777 will resume recent down trend. | |||
| USD/JPY | |||
| Previous Day Range | High: 112.22 | Low: 111.08 | Close: 112.16 |
| Technical Chart | Resistance R-2: 112.96 R-1: 112.56 |
Support |
Forecast High: 112.56 Low: 111.42 |
| USD/JPY’s rally extends to as high as 112.19 so far and intraday bias remains on the upside. Next target is 112.40 resistance and decisive break there will affirm medium term bullishness. On the downside, below 111.11 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 110.28 resistance turned support holds. | |||
| GBP/USD | |||
| Previous Day Range | High: 1.2928 | Low: 1.2846 |
Close: 1.2876 |
| Technical Chart | Resistance R-2: 1.2965 R-1: 1.2921 |
Support S-1: 1.2839 S-2: 1.2801 |
Forecast High: 1.2921 Low: 1.2839 |
| GBP/USD’s break of 1.2872 support suggests resumption of whole corrective fall from 1.3514. Intraday bias is back on the downside for 50% retracement of 1.1958 to 1.3514 at 1.2736 next. On the downside, above 1.2929 minor resistance will turn intraday bias neutral first. But further fall is expected as long as 1.3069 resistance holds, in case of recovery. | |||
| USD/CHF | |||
| Previous Day Range | High: 0.9848 | Low:0.9808 | Close: 0.9842 |
| Technical Chart | Resistance R-2: 0.9873 R-1: 0.9857 |
Support S-1: 0.9817 S-2: 0.9793 |
Forecast High: 0.9857 Low: 0.9817 |
| A temporary top should be formed at 0.9848 in USD/CHF with today’s retreat. Intraday bias is turned neutral first. On the upside, decisive break of 38.2% retracement of 1.0237 to 0.9613 at 0.9851 will add to the case of bullish near-term reversal and target 61.8% retracement at 0.9999 next. Nevertheless, rejection by 0.9851 will indicate that fall from 1.0237 is not finished. Break of 0.9741 support will bring retest of 0.9613 low instead. | |||
| AUD/USD | |||
| Previous Day Range | High: 0.6696 | Low: 0.6606 | Close: 0.6613 |
| Technical Chart |
Resistance |
Support S-1: 0.6581 S-2: 0.6548 |
Forecast High: 0.6671 Low: 0.6581 |
| AUD/USD drops to as low as 0.6630 so far today and the break of 0.6662/70 support zone should confirm long term down trend resumption. Intraday bias is back on the downside. Next near-term target will be 61.8% projection of 0.6933 to 0.6662 from 0.6750 at 0.6583, and then 100% projection at 0.6479. On the upside, break of 0.6750 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery. | |||
| USD/CAD | |||
| Previous Day Range | High: 1.3268 | Low: 1.3206 | Close: 1.3259 |
| Technical Chart | Resistance R-2: 1.3306 R-1: 1.3283 |
Support S-1: 1.3221 S-2: 1.3182 |
Forecast |
| Intraday bias in USD/CAD mildly on the downside. Corrective fall from 1.3329 short term top is in progress for 55-day EMA (now at 1.3190). But downside should be contained above 1.3104 resistance turned support to bring rise resumption. On the upside, above 1.3278 minor resistance will turn bias back to the upside. Sustained break of 1.3327 should confirm completion of consolidation pattern from 1.3664. Further rise should be seen to retest 1.3664 high. | |||
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