Technical Analysis

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EUR/USD
Previous Day Range High: 1.1113 Low: 1.1062 Close: 1.1080
Technical Chart Resistance
R-2: 1.1136
R-1: 1.1108
Support
S-1: 1.1057
S-2: 1.1034
Forecast
High: 1.1108
Low: 1.1057
No change in EUR/USD’s outlook, with 1.1130 minor resistance intact, further decline is expected in for 1.1026 low. Decisive break there will extend the downtrend from 1.2555. On the upside, above 1.1130 minor resistance will turn intraday bias back to the upside to extend the correction from 1.1026. But in that case, we’d expect strong resistance from 1.1249 to limit upside.
USD/JPY
Previous Day Range High: 106.65 Low: 106.23 Close: 106.41
Technical Chart Resistance
R-2: 106.85
R-1: 106.63

Support
S-1: 106.21
S-2: 106.01

Forecast
High: 106.63
Low: 106.21
Intraday bias in USD/JPY remains neutral as consolidation from 105.04 could extend further. Near term outlook stays bearish as long as 107.09 resistance holds. On the downside, break of 105.04 will resume larger fall from 112.40 to 104.69 low. Break will target 100% projection of 112.40 to 106.78 from 109.31 at 103.69. On the upside, though, break of 107.09 resistance will indicate short term bottoming. In this case, stronger rebound would be seen back to 55-day EMA (now at 107.62).
GBP/USD
Previous Day Range High: 1.2273 Low: 1.2105

Close: 1.2252

Technical Chart Resistance 
R-2: 1.2378
R-1: 1.2315
Support
S-1: 1.2147
S-2: 1.2042
Forecast
High: 1.2315
Low: 1.2147
GBP/USD’s strong rise and break of 1.2209 minor resistance suggests short term bottoming at 1.2014. Intraday bias is back on the upside for 55-day EMA (now at 1.2380) and above. But upside should be limited by 38.2% retracement of 1.3381 to 1.2014 at 1.2536. On the downside, break of 1.2108 minor support will turn bias to the downside for 1.2014. Break will resume larger decline for 1.1946 low.
USD/CHF
Previous Day Range High: 0.9844 Low:0.9810 Close: 0.9838
Technical Chart Resistance
R-2: 0.9865
R-1: 0.9851
Support
S-1: 0.9817
S-2: 0.9797
Forecast
High: 0.9851
Low: 0.9817
Intraday bias in USD/CHF remains mildly on the upside. Current recovery from 0.9659 should target 55-day EMA (now at 0.9856). Sustained break will target 0.9975 resistance. On the downside, break of 0.9773 minor support will suggest completion of recovery from 0.9659. Intraday bias will be turned back to the downside for retesting 0.9659 first.
AUD/USD
Previous Day Range High: 0.6787 Low: 0.6747 Close: 0.6755
Technical Chart Resistance
R-2: 0.6803
R-1: 0.6779
Support
S-1: 0.6739
S-2: 0.6723
Forecast
High: 0.6779
Low: 0.6739
AUD/USD is staying in consolidation from 0.6677 and intraday bias remains neutral first. On the upside, break of 0.6822 will extend the corrective rebound from 0.6677. But upside should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618.
USD/CAD
Previous Day Range High: 1.3315 Low: 1.3271 Close: 1.3300
Technical Chart Resistance
R-2: 1.3339
R-1: 1.3320
Support
S-1: 1.3276
S-2: 1.3251

Forecast
High: 1.3320                                Low: 1.3276

Intraday bias in USD/CAD remains neutral at this point. Consolidation from 1.3345 could extend with another decline. But further rally is expected as long as 1.3177 support holds. On the upside, break of 1.3345 will extend the rebound from 1.3016 to 1.3564/3664 resistance zone. On the downside, however, break of 1.3177 support will turn bias back to the downside for retesting 1.3016 low instead.

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