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
S-1: 111.94
S-2: 111.78

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
High: 1.3383                            Low: 1.3281

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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