Technical Analysis
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| EUR/USD | |||
| Previous Day Range | High: 1.1163 | Low: 1.1116 | Close: 1.1148 |
| Technical Chart | Resistance R-2: 1.1189 R-1: 1.1169 |
Support S-1: 1.1122 S-2: 1.1095 |
Forecast High: 1.1169 Low: 1.1122 |
| EUR/USD recovers again but stays inside range of 1.1066/1239. Intraday bias remains neutral first. With 1.1066 support intact, further rise is still mildly in favor. On the upside, break of 1.1239 will resume such rally from 1.0879 and target 100% projection of 1.0879 to 1.1179 from 1.0981 at 1.1281 next. However, firm break of 1.1066 will argue that whole rise from 1.0879 has completed. In this case, intraday bias will be turned back to the downside for 1.0981 support for confirmation. | |||
| USD/JPY | |||
| Previous Day Range | High: 110.01 | Low: 109.76 | Close: 109.90 |
| Technical Chart | Resistance R-2: 110.14 R-1: 110.02 |
Support |
Forecast High: 110.02 Low: 109.77 |
| Intraday bias in USD/JPY remains neutral for consolidation below 110.21 temporary top. Downside of retreat should be contained by 109.24 minor support to bring rally resumption. On the upside, break of 110.21 will extend whole rise from 104.45 to 100% projection of 106.48 to 109.72 from 107.65 at 110.89 next. | |||
| GBP/USD | |||
| Previous Day Range | High: 1.3042 | Low: 1.2983 |
Close: 1.3032 |
| Technical Chart | Resistance R-2: 1.3078 R-1: 1.3055 |
Support S-1: 1.2996 S-2: 1.2960 |
Forecast High: 1.3055 Low: 1.2996 |
| Intraday bias in GBP/USD remains neutral for the moment. On the downside, sustained break of 38.2% retracement of 1.1958 to 1.3514 at 1.2920 will target 61.8% retracement at 1.2552. On the upside, above 1.3097 minor resistance will turn bias back to the upside for 1.3284 resistance instead. | |||
| USD/CHF | |||
| Previous Day Range | High: 0.9680 | Low:0.9624 | Close: 0.9638 |
| Technical Chart | Resistance R-2: 0.9703 R-1: 0.9671 |
Support S-1: 0.9615 S-2: 0.9591 |
Forecast High: 0.9671 Low: 0.9615 |
| USD/CHF drops to as low as 0.9635 so far today. Break of 0.9646 support indicates resumption of larger down trend from 1.0237. Intraday bias is back on the downside for 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. On the upside, break of 0.9762 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery. | |||
| AUD/USD | |||
| Previous Day Range | High: 0.6916 | Low: 0.6873 | Close: 0.6904 |
| Technical Chart | Resistance R-2: 0.6941 R-1: 0.6922 |
Support S-1: 0.6879 S-2: 0.6855 |
Forecast High: 0.6922 Low: 0.6879 |
| AUD/USD is staying in consolidation from 0.6849 temporary low, and intraday bias remains neutral. Outlook is unchanged that rebound from 0.6670 could have completed with three waves up to 0.7031. On the downside, break of 0.6849 will target 0.6754 support to confirm this bearish case. However, break of 0.6930 will turn focus back to 0.7031 resistance instead. | |||
| USD/CAD | |||
| Previous Day Range | High: 1.3078 | Low: 1.3031 | Close: 1.3047 |
| Technical Chart | Resistance R-2: 1.3099 R-1: 1.3073 |
Support S-1: 1.3026 S-2: 1.3005 |
Forecast |
| Intraday bias in USD/CAD stays neutral for the moment. With 1.3102 resistance intact, further decline is expected. On the downside, break of 1.2951 will resume larger decline to 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next. However, sustained break of 1.3102 will confirm short term bottoming and target 55-day EMA (now at 1.3142) and above. | |||
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