Technical Analysis

Our ultimate goal is to deliver superior returns for our clients

EUR/USD
Previous Day Range High: 1.1678 Low: 1.1572 Close: 1.1645
Technical Chart Resistance
R-2: 1.1738
R-1: 1.1691
Support
S-1: 1.1585
S-2: 1.1526
Forecast
High: 1.1691
Low: 1.1585
Intraday bias in EUR/USD stays on the downside for 1.1507 low. Firm break there will resume whole decline from 1.2555, through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186. On the upside, in case of another rise as consolidation extends, upside should be limited by 1.1851 resistance to bring fall resumption eventually.
USD/JPY
Previous Day Range High: 113.17 Low: 112.04 Close: 112.42
Technical Chart Resistance
R-2: 113.67
R-1: 113.05
Support
S-1: 111.92
S-2: 111.41
Forecast
High: 113.05
Low: 111.92
USD/JPY breach of 113.13 suggests rally resumption. Intraday bias is back on the upside. Current rally from 104.62 should target 61.8% projection of 104.62 to 111.39 from 109.36 at 113.54 first. Break will put focus on 114.73 key resistance for confirming our bullish medium term view. On the downside, break of 112.21 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.
GBP/USD
Previous Day Range High: 1.3083 Low: 1.2955 Close: 1.3016
Technical Chart Resistance
R-2: 1.3146                                R-1: 1.3081
Support
S-1: 1.2953
S-2: 1.2890
Forecast
High: 1.3081
Low: 1.2953
GBP/USD decline continues to as low as 1.2956 so far. Intraday bias stays on the downside for 1.2874 fibonacci level first. Sustained break there will carry larger bearish implications. In that case, next near term target is 61.8% projection of 1.4376 to 1.3203 from 1.3362 at 1.2637. On the upside, above 1.3082 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited well below 1.3362 resistance to bring fall resumption.
USD/CHF
Previous Day Range High: 1.0043 Low: 0.9957 Close: 0.9989
Technical Chart Resistance
R-2: 1.0082
R-1: 1.0036
Support
S-1: 0.9950
S-2: 0.9910
Forecast
High: 1.0036
Low: 0.9950
Intraday bias in USD/CHF remains neutral first, with focus on 1.0067. Break of 1.0067 resistance will resume the larger rise from 0.9186. USD/CHF should then target 61.8% projection of 0.9186 to 1.0056 from 0.9787 at 1.0325, which is close to 1.0342 key resistance. However, break of 0.9926 will dampen the bullish view again.
AUD/USD
Previous Day Range High: 0.7441 Low: 0.7320 Close: 0.7357
Technical Chart Resistance
R-2: 0.7494
R-1: 0.7425
Support
S-1: 0.7304
S-2: 0.7252
Forecast
High: 0.7425
Low: 0.7304
AUD/USD rebound ended very quickly and drops through 0.7342 minor support. Intraday bias is back on the downside for 0.7309 low. Break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next. On the upside, in case of another rise, upside should be limited below 0.7676 resistance to bring larger fall resumption eventually.
USD/CAD
Previous Day Range High: 1.3289 Low: 1.3154 Close: 1.3252
Technical Chart Resistance
R-2: 1.3367
R-1: 1.3309
Support
S-1: 1.3174
S-2: 1.3097
Forecast
High: 1.3309
Low: 1.3174
USD/CAD’s breach of 1.3258 suggests that rebound from 1.3063 has resumed again. Intraday bias is back on the upside even though upside momentum isn’t too convincing. We’d holding on to the bullish view that pull back from 1.3385 has completed at 1.3063 already. Rise from there should target a test on 1.3385 first. Break there will resume whole rally from 1.2061 for 1.3685 fibonacci level. In case of another fall, we’d still expect strong support from 1.3067 resistance turned support to contain downside.

Reach Us

Drop us a line or email us and we will respond as soon as possible.

85 Great Portland Street
London, UK
W1W 7LT

+44 203 871 8393

info@hudsongc.com

Leave A Message