EURUSD: Continues To Consolidate!
The EURUSD remains in a recovery mode as long as 1.1162 broken resistance turned support holds on a daily closing basis. Resistance comes at 1.1218 levels. A daily closing above that level is needed to open 1.1282 levels. A halt is likely. It may test 1.1218 before attempts to break higher. Anyway; above 1.1282 will extend the corrective recovery to 1.1333/1.1369 levels.
According to daily timeframe: A sudden rise to 1.1280 levels couldn’t be ruled out. The pair may spike to this level before the next fall. Intraday trend is bullish above 1.1162 levels.
Alternatively, a failure to hold above the 1.1218 levels could mean a return to 1.1162 levels. It should turn higher from here. Anyway; below 1.1162 should weaken the recent recovery and turn the focus back on the 1.1100/1.1075 levels. Below that level will reverse risk to the downside to 1.1015 levels.
In conclusion: The EURUSD sees sideways move within 1.1162/1.1225 range with a potential to break higher.
Support: 1.1162, 1.1100, 1.1075, 1.1015, 1.0975. 1.0930
Resistance: 1.1218, 1.1282, 1.1333, 1.1369, 1.1410
As long as 1.2105 resistance holds on a daily closing basis. The GBPUSD remains on the downside. Support comes at 1.2050 ahead of 1.2000 (main). A halt is likely, but a cut would open 1.1950. Furthermore, support comes at 1.1900 levels ahead of the 1.1850/1.1800 levels.
On the upside, resistance comes at 1.2105 levels (Yesterday’s high). A sustained breakout -daily closing- above 1.2105 will put the pair in the recovery mode, and turn the focus on the 1.2160/1.2220 levels before another fall.
In conclusion: The GBPUSD remains exposed to the downside below 1.2105 levels. Above that level sees recovery threats to 1.2160/1.2220 levels.
Support: 1.2050, 1.2000, 1.1950, 1.1900, 1.1850, 1.1800
Resistance: 1.2105, 1.2160, 1.2220, 1.2285, 1.2370, 1.2480
The outlook in USDJPY has turned neutral at the moment. Support comes at 105.02 levels while resistance comes at 106.96 levels. On the upside, above 106.96 will bring limited gains to 107.50 levels. A halt is very likely, it may turn lower from here. Anyway; above 107.50 will extend the recovery move to 108.15 ahead of 108.90 levels.
Alternatively; a failure to break and hold above 106.96 could mean a return to 106.00 level, next support comes at 105.50 levels. Below that level would challenge 105.00 levels.
In conclusion: The USDJPY sees sideways move with a potential to test 107.50 before the next falling.
Support: 106.50, 106.00, 105.50, 105.00, 104.60, 103.90
Resistance:106.96, 107.50, 108.15, 108.90, 109.60
As long as 06830 resistance holds on a daily closing basis. The AUDUSD remains on the downside to 0.6755 levels ahead of 0.6675 levels. Above 0.6830 will extend the corrective recovery to 0.6900 levels before another falling.
Support: 0.6755, 0.6675, 0.6580, 06510, 0.6430
Resistance: 0.6830, 0.6900, 0.6955, 0.7000, 0.7080
The outlook in USDCAD is neutral at the moment. Support comes at 1.3200 levels while resistance comes at 1.3400 levels. On the upside, above 1.3400 would challenge 1.3440 levels. A break will pave the way to 1.3410/1.3487 levels.
A daily closing above 1.3300 is needed to prevent a return to the downside. Otherwise; there’s a risk for a return/challenge/ break below the 1.3200 levels.
On the downside, below 1.3200 level will suggest short-term top and pave the way to 1.3115/1.3055 levels.
In conclusion: The USDCAD sees a consolidation within 1.3200/1.3300 range before the next move. Below 1.3200 sees pullback threats to 1.3115/1.3055 levels.
Support: 1.3200, 1.3115, 1.3055, 1.3015, 1.2930, 1.2862
Resistance: 1.3300, 1.3340, 1.3410, 1.3487, 1.3550, 1.3617