EURUSD Consolidates With Downside Bias!
The outlook in EURUSD has turned neutral at the moment with risk to the downside. Support comes at 1.1075 levels while resistance comes at 1.1170 levels.
On the upside, resistance comes at 1.1170 levels. Above that level will extend the corrective recovery to 1.1218 levels. Furthermore, resistance comes at 1.1282 levels.
On the downside, support comes at 1.1097/1.1075 levels. A cut through support – daily closing basis – will restore the downside moment and pave the way to 1.1015 levels. Next support comes at 1.0975 levels.
In conclusion: The EURUSD sees recovery threats above 1.1075/1.1097 levels with cautions. But the recovery above 1.1075 will be limited below 1.1170 levels. Below 1.1075 will restore the downside momentum and open the way to 1.1015/1.0975 levels.
Support: 1.1097, 1.1070, 1.1015, 1.0975, 1.0930, 1.0860
Resistance: 1.1170, 1.1218, 1.1282, 1.1333, 1.1369, 1.1410
The outlook in GBPUSD has turned neutral with risk to break lower. Support comes at 1.2212 while resistance comes at 1.2285 levels.
On the upside, a daily closing above 1.2285 level will restore the upside momentum and pave the way to 1.2350/1.2380 levels. Furthermore, aims the 1.2450 level.
On the downside, support comes at 1.2212 levels. Below that level will accelerate the fall to 1.2166/1.2117 levels. A halt is likely, but losing this level will pave the way to 1.2055 level.
In conclusion: The GBPUSD faces pullback threats below 1.2285 levels. Only a daily closing above that level will invalid this view…
Note: The pair is likely to consolidate within 1.2216/1.2285 range before a sudden fall. Only a sustained breakout – daily closing- above 1.2285 level will invalid this view and extend gains or pave the way to 1.2500 levels.
Support: 1.2212, 1.2166, 1.2116, 1.2055, 1.2000
Resistance:1.2285, 1.2350, 1.2380, 1.2450, 1.2505
As long as 104.63/105.00 support holds on a daily closing basis. The USDJPY remains in a recovery mode and further upside couldn’t be ruled out. Resistance comes at 106.20 levels. A break will extend the corrective recovery to 106.75/107.30 levels. Furthermore, resistance comes at 108.17/108.75 levels. On the downside below 104.63 will restore the downside momentum and aims the 109.95 levels.
Support: 105.40, 105.00, 104.63, 103.95, 103.33, 102.90
Resistance: 106.20, 106.75, 107.30, 108.17, 108.75
The AUDUSD is neutral at the moment. Support comes at 0.6720 levels while resistance comes at 0.6830 levels. On the downside, below 0.6720 level paves the way to 0.6660 levels. Next support comes around 0.6600 levels. On the upside. Above 0.6830 sees recovery threats to 0.6875 levels. Next resistance comes at 0.6925 levels.
Support: 0.6720, 0.6660, 0.6600, 0.6550, 0.6500
Resistance: 0.6830, 0.6875, 0.6930, 0.7000
As long as 1.3270/1.3350 resistance holds on a daily closing basis. The USDCAD remains in a pullback mode, and further down could be seen to 1.2700 levels. A halt is likely, it may turn higher from here. Anyway, below 1.2700 will extend the corrective pullback to 1.3115 levels. Furthermore, support comes at 1.3055 levels. On the upside, above 1.3350 will restore the upside momentum and pave the way to 1.3410/1.3487 levels…
Support:1.3200, 1.3115, 1.3055, 1.3015, 1.2930, 1.2862
Resistance: 1.3270, 1.3350, 1.3410, 1.3487, 1.3550, 1.3617