Technical Analysis

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EUR/USD
Previous Day Range High: 1.1154 Low: 1.1101 Close: 1.1125
Technical Chart Resistance
R-2: 1.1180
R-1: 1.1152
Support
S-1: 1.1099
S-2: 1.1074
Forecast
High: 1.1152
Low: 1.1099
Intraday bias in EUR/USD remains on the upside for the moment. Further rise should be seen to retest 1.1179 resistance first. Decisive break there will confirm resumption of whole rally from 1.0879. Next target will be 100% projection of 1.0879 to 1.1179 from 1.0981 at 1.1281. On the downside, below 1.1097 minor support will delay the bullish case and turn bias neutral first.
USD/JPY
Previous Day Range High: 109.44 Low: 108.42 Close: 109.31
Technical Chart Resistance
R-2: 110.08
R-1: 109.69

Support
S-1: 108.67
S-2: 108.04

Forecast
High: 109.69
Low: 108.67
Intraday bias in USD/JPY remains neutral as range trading continues. With 108.27 support intact, further rally is still expected. On the upside, above 109.20 minor resistance will bring retest of 109.72 first. However, firm break of 108.27 will indicate near term reversal and turn outlook bearish for 106.48 support.
GBP/USD
Previous Day Range High: 1.3229 Low: 1.3049

Close: 1.3163

Technical Chart Resistance 
R-2: 1.3327
R-1: 1.3245
Support
S-1: 1.3065
S-2: 1.2967
Forecast
High: 1.3245
Low: 1.3065
Intraday bias in GBP/USD is turned neutral again as it retreats sharply after hitting 1.3229. Some consolidations could be seen first, but downside should be contained by 1.3012 resistance turned support to bring rise resumption. On the upside, break of 1.3229 will resume the rise from 1.1958 to 1.3381 resistance next. However, firm break of 1.3012 will confirm short term topping and target 1.2827 support, and possibly below.
USD/CHF
Previous Day Range High: 0.9876 Low:0.9804 Close: 0.9850
Technical Chart Resistance
R-2: 0.9915
R-1: 0.9883
Support
S-1: 0.9811
S-2: 0.9771
Forecast
High: 0.9883
Low: 0.9811
With 0.9863 minor resistance intact, intraday bias in USD/CHF remains on the downside. Rebound from 0.9659 should have completed already. Deeper fall would be seen to retest this low. On the upside, above 0.9863 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.
AUD/USD
Previous Day Range High: 0.6912 Low: 0.6864 Close: 0.6903
Technical Chart Resistance
R-2: 0.6941
R-1: 0.6922
Support
S-1: 0.6874
S-2: 0.6845
Forecast
High: 0.6922
Low: 0.6874
AUD/USD’s rise from 0.6754 resumed by taking out 0.6862 and hits as high as 0.6889 so far. Such development suggests that pull back from 0.6929 has completed and rebound from 0.6670 is resuming. Intraday bias is back on the upside for 0.6929 first. Break will target 100% projection of 0.6670 to 0.6929 from 0.6754 at 0.7013 next. On the downside, break of 0.6800 will dampen the bullish case and turn bias back to the downside.
USD/CAD
Previous Day Range High: 1.3194 Low: 1.3158 Close: 1.3184
Technical Chart Resistance
R-2: 1.3215
R-1: 1.3199
Support
S-1: 1.3163
S-2: 1.3143

Forecast
High: 1.3199                                Low: 1.3163

USD/CAD is staying in range of 1.3158/3327 and intraday bias remains neutral. On the downside, break of 1.3158 will extend the fall from 1.3327 to retest 1.3042 low. On the upside, break of 1.3327 will resume the rise form 1.3042 and target 1.3382 key structural resistance next.

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