Technical Analysis
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| EUR/USD | |||
| Previous Day Range | High: 1.1324 | Low: 1.1277 | Close: 1.1297 |
| Technical Chart | Resistance R-2: 1.1346 R-1: 1.1322 |
Support S-1: 1.1275 S-2: 1.1252 |
Forecast High: 1.1322 Low: 1.1275 |
| Intraday bias in EUR/USD remains neutral for the moment. With 1.1250 minor support intact, further rise is in favor to 1.1448 resistance and above. But in that case, we’d expect strong resistance between 1.1448/1569 to limit upside. On the downside, below 1.1250 minor support will turn bias to the downside. Decisive break of 1.1176 will resume the down trend from 1.2555. | |||
| USD/JPY | |||
| Previous Day Range | High: 112.16 | Low: 111.89 | Close: 112.10 |
| Technical Chart | Resistance R-2: 112.32 R-1: 112.21 |
Support |
Forecast High: 112.21 Low: 111.94 |
| Intraday bias in USD/JPY remains neutral with focus on 112.13 key resistance. On the upside, sustained break of 112.13 will resume whole rise from 104.69 for 100 % projection of 109.71 to 111.82 and 110.84 at 112.95 first. On the downside, below 111.69 minor support will turn bias to the downside for 110.84 support. Break will bring deeper fall back to 109.71 support. | |||
| GBP/USD | |||
| Previous Day Range | High: 1.3068 | Low: 1.3026 | Close: 1.3037 |
| Technical Chart | Resistance R-2: 1.3086 R-1: 1.3061 |
Support S-1: 1.3019 S-2: 1.3002 |
Forecast High: 1.3061 Low: 1.3019 |
| GBP/USD is still bounded in consolidation from 1.3381 and intraday bias remains neutral. Outlook is unchanged that further rise is expected with 1.2960 support intact. On the upside, decisive break of 1.3381 resistance will resume whole rise from 1.2391. Next target will be 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. However, on the downside, sustained break of 1.2960 will indicate that rebound from 1.2391 has completed earlier than expected. Deeper fall would then be seen to 1.2773 support for confirmation. | |||
| USD/CHF | |||
| Previous Day Range | High: 1.0110 | Low:1.0062 | Close: 1.0107 |
| Technical Chart | Resistance R-2: 1.0141 R-1: 1.0124 |
Support S-1: 1.0076 S-2: 1.0045 |
Forecast High: 1.0124 Low: 1.0076 |
| Intraday bias in USD/CHF remains on the upside for 1.0124/8 resistance. We’d be cautious on strong resistance from there to limit upside. On the downside, below 0.9997 minor support will turn bias to the downside for 0.9879 support. Nevertheless, sustained break of 1.0124/8 will confirm larger up trend resumption. | |||
| AUD/USD | |||
| Previous Day Range | High: 0.7206 | Low: 0.7151 | Close: 0.7172 |
| Technical Chart | Resistance R-2: 0.7231 R-1: 0.7202 |
Support S-1: 0.7147 S-2: 0.7121 |
Forecast High: 0.7202 Low: 0.7147 |
| AUD/USD’s choppy rise from 0.7003 resumed by taking out 0.7192 and reaches as high as 0.7205 so far. Intraday bias is back on the upside for 0.7295 resistance. Upside momentum is relatively weak and structure of the recovery is corrective looking. Thus, upside could be limited by 0.7295 to bring near term reversal. On the downside, break of 0.7139 minor support will turn intraday bias back to the downside for 0.7003/7052 support zone instead. | |||
| USD/CAD | |||
| Previous Day Range | High: 1.3372 | Low: 1.3270 | Close: 1.3338 |
| Technical Chart | Resistance R-2: 1.3429 R-1: 1.3383 |
Support S-1: 1.3281 S-2: 1.3225 |
Forecast |
| USD/CAD drops sharply to as low as 1.3274 but stays above 1.3250 support. Outlook is unchanged and intraday bias remains neutral. Consolidation from 1.3467 is in progress and could extend, but upside breakout is expected sooner or later. On the upside, firm break of 1.3467 will confirm this bullish case and target 1.3664 resistance next. However, decisive break of 1.3250 will turn bias back to the downside for 1.3068/3112 support zone instead. | |||
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