Technical Analysis

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EUR/USD
Previous Day Range High: 1.1866 Low: 1.1810 Close: 1.1819
Technical Chart Resistance
R-2: 1.1888
R-1: 1.1853
Support
S-1: 1.1797
S-2: 1.1776
Forecast
High: 1.1853
Low: 1.1797
A temporary top is formed at 1.1880 in EUR/USD with today’s retreat and intraday bias is turned neutral first. Further rise is expected as long as 1.1688 support holds. Break of 1.1880 will target a test on 1.2011 high. Nevertheless, a break of 1.1688 will likely resume the correction from 1.2011, and turn bias to the downside for 1.1612 and below.
USD/JPY
Previous Day Range High: 104.92 Low: 104.43 Close: 104.90
Technical Chart Resistance
R-2: 105.24
R-1: 105.07

Support
S-1: 104.58
S-2: 104.26

Forecast
High: 105.07
Low: 104.58
Intraday bias in USD/JPY stays on the downside. A deeper fall would be seen to retest 104.00 support first. Break there will resume the whole decline from 111.71. The next target will be 101.18 low. On the upside, however, a break of 105.03 minor resistance will turn bias neutral first.
GBP/USD
Previous Day Range High: 1.3151 Low: 1.3068

Close: 1.3078

Technical Chart Resistance 
R-2: 1.3182
R-1: 1.3130
Support
S-1: 1.3047
S-2: 1.3016

Forecast
High: 1.3130
Low: 1.3047

Intraday bias in GBP/USD stays on the upside as a rebound from 1.2675 is still in progress. The next target is retesting 1.3482 high. On the downside, a break of 1.2910 minor support will turn bias back to the downside for a 38.2% retracement of 1.1409 to 1.3482 at 1.2690 instead.
USD/CHF
Previous Day Range High: 0.9080 Low:0.9041 Close: 0.9072
Technical Chart

Resistance
R-2: 0.9103
R-1: 0.9088

Support
S-1: 0.9049
S-2: 0.9025

Forecast
High: 0.9088
Low: 0.9049

Intraday bias in USD/CHF stays neutral for consolidation above 0.9303 temporary low. Further fall is expected as long as 0.9165 resistance holds. Below 0.9030 will target 0.8998 low first. The break will resume a larger downtrend for a 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. However, a break of 0.9165 resistance will delay the bearish case. Intraday bias will be turned back to the upside to extend the consolidation from 0.8998 with another rising leg.
AUD/USD
Previous Day Range High: 0.7125 Low: 0.7082 Close: 0.7116
Technical Chart

Resistance
R-2: 0.7151
R-1: 0.7133

Support
S-1: 0.7090
S-2: 0.7065
Forecast
High: 0.7133
Low: 0.7090
Stronger than expected rebound in AUD/USD and break of 0.7114 minor resistance mixed up the near-term outlook. On the upside, a break of 0.7243 resistance will suggest that the correction from 0.7413 has completed and brought a retest of this high. On the downside, though, the break of 0.7005 will resume the correction to 38.2% retracement of 0.5506 to 0.7413 at 0.6685.
USD/CAD
Previous Day Range High: 1.3177 Low: 1.3119 Close: 1.3132
Technical Chart Resistance
R-2: 1.3201
R-1: 1.3166
Support
S-1: 1.3108
S-2: 1.3085

Forecast
High: 1.3166                                Low : 1.3108

Intraday bias in USD/CAD is turned neutral with a temporary low formed at 1.3081. Further decline is expected as long as 1.3259 resistance holds. Below 1.3081 will target 1.2994 low first. The break will resume the larger fall from 1.4667. However, a break of 1.3259 resistance will extend the consolidation pattern from 1.2994 with another rising leg. Intraday bias will be turned back to the upside for 1.3418 instead.

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