Technical Analysis

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EUR/USD
Previous Day Range High: 1.1196 Low: 1.1113 Close: 1.1165
Technical Chart Resistance
R-2: 1.1241
R-1: 1.1203
Support
S-1: 1.1120
S-2: 1.1075
Forecast
High: 1.1203
Low: 1.1120
EUR/USD’s rally resumed after brief retreat and hits as high as 1.1187. 61.8% retracement of 1.1496 to 1.0635 at 1.1167 is breached and is now the focus. Sustained trading above there will pave the way to retest 1.1496 key resistance. On the downside, a break of 1.1081 minor support will suggest rejection by 1.1167 and turn bias to the downside for 1.1108 support first.
USD/JPY
Previous Day Range High: 108.77 Low: 107.48 Close: 108.68
Technical Chart Resistance
R-2: 109.60
R-1: 109.14

Support
S-1: 107.85
S-2: 107.02

Forecast
High: 109.14
Low: 107.85
USD/JPY’s rise from 105.98 resumed by breaking 108.08 resistance. Intraday bias is back on the upside for 109.38 resistance first. Corrective fall from 111.71 should have completed at 105.98 already. Break of 109.38 will target a test on 111.71 high. On the downside, a break of 107.08 support will turn bias back to the downside for retesting 105.98 low instead.
GBP/USD
Previous Day Range High: 1.2575 Low: 1.2476

Close: 1.2550

Technical Chart Resistance 
R-2: 1.2633
R-1: 1.2591
Support
S-1: 1.2492
S-2: 1.2435

Forecast
High: 1.2591
Low: 1.2492

Intraday bias in GBP/USD remains on the upside at this point. The whole rally from 1.1409 might be resuming. Break of 1.2647 resistance will confirm at target 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. On the downside, however, below 1.2375 minor support will turn bias back to the downside for 1.2065 instead.
USD/CHF
Previous Day Range High: 0.9637 Low:0.9569 Close: 0.9624
Technical Chart

Resistance
R-2: 0.9678
R-1: 0.9651

Support
S-1: 0.9583
S-2: 0.9542
Forecast
High: 0.9651
Low: 0.9583
Intraday bias in USD/CHF is turned neutral with 4-hour MACD crossed above the signal line. The further decline will remain in favor as long as 0.9736 resistance holds. Corrective patterns from 0.9901 could still extend lower and a break of 0.9573 will target 0.9502 support. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, the break of 0.9736 resistance will turn bias back to the upside instead.
AUD/USD
Previous Day Range High: 0.6897 Low: 0.6771 Close: 0.6896
Technical Chart

Resistance
R-2: 0.6981
R-1: 0.6938

Support
S-1: 0.6812
S-2: 0.6729
Forecast
High: 0.6938
Low: 0.6812
Intraday bias in AUD/USD remains on the upside at this point. A decisive break of 0.6826 will carry larger bullish implications. Rise from 0.5506 should target 0.7031 resistance next. On the downside, though, a break of 0.6567 support will indicate rejection by 0.6826. Intraday bias will be turned back to the downside for 0.6402 support instead.
USD/CAD
Previous Day Range High: 1.3585 Low: 1.3475 Close: 1.3515
Technical Chart Resistance
R-2: 1.3635
R-1: 1.3575
Support
S-1: 1.3465
S-2: 1.3415

Forecast
High: 1.3575                           Low 1.3465

USD/CAD’s decline from 1.4667 accelerated to as low as 1.3545 so far today. Intraday bias remains on the downside at this point. The next near term target is a 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236. On the upside, the break of 1.3832 resistance is needed to indicate short term topping. Otherwise, outlook will stay mildly bearish in case of recovery.

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