Technical Analysis

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EUR/USD
Previous Day Range High: 1.1987 Low: 1.1947 Close: 1.1977
Technical Chart Resistance
R-2: 1.2010
R-1: 1.1994
Support
S-1: 1.1954
S-2: 1.1930
Forecast
High: 1.1994
Low: 1.1954
EUR/USD’s rebound from 1.1703 is still in progress and intraday bias stays on the upside. Firm break of 1.1988 resistance should affirm the case that correction from 1.2348 has completed at 1.1703. Further rally should then be seen to 1.2242 key resistance for confirmation. On the downside, below 1.1876 minor support will dampen the bullish case, and turn bias back to the downside for 38.2% retracement of 1.0635 to 1.2348 at 1.1694.
USD/JPY
Previous Day Range High: 109.10 Low: 108.72 Close: 108.90
Technical Chart Resistance
R-2: 109.29
R-1: 109.09
Support
S-1: 108.71
S-2: 108.53
Forecast
High: 109.09
Low: 108.71
Intraday bias in USD/JPY remains mildly on the downside at this point. Correction from 110.95 is in progress for 108.40 support and possibly below. Still, we’d expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.95 will bring retest of 110.95 high.
GBP/USD
Previous Day Range High: 1.3809 Low: 1.3746 Close: 1.3779
Technical Chart Resistance 
R-2: 1.3841
R-1: 1.3810
Support
S-1: 1.3747
S-2: 1.3715
Forecast
High: 1.3810
Low: 1.3747
Intraday bias in GBP/USD remains neutral at this point. Risk will stay mildly on the downside as long as 1.3917 resistance holds. On the downside, break of 1.3668/9 will resume the correction from 1.4240 to 1.3482 key resistance turned support. However, firm break of 1.3917 will suggest that the correction has completed, and bring stronger rise to 1.4000 resistance first.
USD/CHF
Previous Day Range High: 0.9234 Low:0.9181 Close: 0.9226
Technical Chart Resistance
R-2: 0.9267
R-1: 0.9246
Support
S-1: 0.9193
S-2: 0.9161
Forecast
High: 0.9246
Low: 0.9193
Intraday bias in USD/CHF is turned neutral for the moment. Focus stays on 38.2% retracement of 0.8756 to 0.9471 at 0.9198. We’re still looking for support from here to bring rebound. On the upside, above 0.9258 will turn bias to the upside for retesting 0.9471. However, sustained break of 0.9198 will bring deeper fall to 61.8% retracement at 0.9029.
AUD/USD
Previous Day Range High: 0.7738 Low: 0.7631 Close: 0.7723
Technical Chart Resistance
R-2: 0.7804
R-1: 0.7764
Support
S-1: 0.7657
S-2: 0.7590
Forecast
High: 0.7764
Low: 0.7657
AUD/USD’s break of 0.7676 resistance indicates resumption of rebound from 0.7530. Intraday bias is back on the upside for 0.7848 resistance. Firm break there should completion of the corrective fall from 0.8006. For now, risk will stay mildly on the upside as long as 0.7583 minor support holds, in case of retreat.
USD/CAD
Previous Day Range High: 1.2576 Low: 1.2496 Close: 1.2520
Technical Chart Resistance
R-2: 1.2611
R-1: 1.2565
Support
S-1: 1.2485
S-2: 1.2451
Forecast
High: 1.2656                                     Low : 1.2485
Intraday bias in USD/CAD remains neutral and outlook is unchanged. On the upside, break of 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds, and eventual downside breakout is expected. On the downside, break of 1.2501 minor support will bring retest of 1.2363 low first.

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