EUR/USD
Rally from 1.2208 and 1.2252 stalled at 1.2398, ahead of reversal. Loss of 1.2290, trendline support, and 1.2252, confirms 1.2468 as a key lower top. Yesterday’s brief break below 1.2162 found temporary foothold at 1.2151, ahead of bounce. 1.2295 now caps for fresh push lower to target 1.2110.
Res: 1.2304, 1.2318, 1.2343, 1.2360
Sup: 1.2204, 1.2151, 1.2110, 1.2075
GBP/USD
Past two days trading action saw a break above the resistance of a daily rising wedge formation. This has failed to lead to continuation with an hourly head and shoulders formation developing instead. Today’s break below the neckline at 1.5010 has triggered fresh weakness to test 1.4960 so far, with next levels seen at 1.4854/01. Only regain of 1.5127 improves.
Res: 1.5105, 1.5127, 1.5149, 1.5174
Sup: 1.4960, 1.4914, 1.4855, 1.4801
USD/JPY
Breaks lower through a 7 month rising trendline at 88.95, to confirm potential for further weakness. Negative hourly studies confirm bear structure and 87.96 marks the next downside target, with 88.28 seen so far. 88.91/89.05 zone offer immediate resistance, ahead of 89.50/76, break of which is required to ease bear pressure.
Res: 88.91, 89.05, 89.50, 89.76
Sup: 88.28, 87.96, 87.36, 87.00
USD/CHF
Attempted below the 50% retracement of 0.9916/1.1730 upleg at 1.0823, to reach 1.0787 thus far and attract further losses towards 1.0728, 03 May low, next. Regaining 1.0903/37 now needed to neutralize the immediate bear tone.
Res: 1.0854, 1.0880, 1.0903, 1.0937
Sup: 1.0787, 1.0728, 1.0698, 1.0674
Rally from 1.2208 and 1.2252 stalled at 1.2398, ahead of reversal. Loss of 1.2290, trendline support, and 1.2252, confirms 1.2468 as a key lower top. Yesterday’s brief break below 1.2162 found temporary foothold at 1.2151, ahead of bounce. 1.2295 now caps for fresh push lower to target 1.2110.
Res: 1.2304, 1.2318, 1.2343, 1.2360
Sup: 1.2204, 1.2151, 1.2110, 1.2075
GBP/USD
Past two days trading action saw a break above the resistance of a daily rising wedge formation. This has failed to lead to continuation with an hourly head and shoulders formation developing instead. Today’s break below the neckline at 1.5010 has triggered fresh weakness to test 1.4960 so far, with next levels seen at 1.4854/01. Only regain of 1.5127 improves.
Res: 1.5105, 1.5127, 1.5149, 1.5174
Sup: 1.4960, 1.4914, 1.4855, 1.4801
USD/JPY
Breaks lower through a 7 month rising trendline at 88.95, to confirm potential for further weakness. Negative hourly studies confirm bear structure and 87.96 marks the next downside target, with 88.28 seen so far. 88.91/89.05 zone offer immediate resistance, ahead of 89.50/76, break of which is required to ease bear pressure.
Res: 88.91, 89.05, 89.50, 89.76
Sup: 88.28, 87.96, 87.36, 87.00
USD/CHF
Attempted below the 50% retracement of 0.9916/1.1730 upleg at 1.0823, to reach 1.0787 thus far and attract further losses towards 1.0728, 03 May low, next. Regaining 1.0903/37 now needed to neutralize the immediate bear tone.
Res: 1.0854, 1.0880, 1.0903, 1.0937
Sup: 1.0787, 1.0728, 1.0698, 1.0674