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
S-1: 109.77
S-2: 109.64

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
High: 1.3073                                Low: 1.3026

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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