EURUSD: Bearish Eyes The 1.1773 Levels
The EURUSD maintained a bearish momentum yesterday, topped at the 1.1936 levels and bottomed at the 1.1831 levels. This development levels the pair targeting the 1.1773/1.17730 levels, a halt is likely and a reversal may occur but if this fails to happen, next support comes at the 1.1670 levels, further down, support lies at the 1.1585 levels.
On the upside, resistance comes at the 1.1936 levels, a daily closing back above that level will turn the focus again on the 1.2059 levels before another fall.
with GBPUSD trading below 1.3658 levels, the pair remains vulnerable, further downside is likely in the day ahead, support lies at the 1.3450 levels. The GBPUSD will have to break and hold below the 1.3450 levels on a daily closing basis to push the market for further pullback move If seen the pair will face a corrective pullback threats to the 1.3395 levels with a break below here opening the way to the 1.3328 levels, further down, support stands at the 1.3266 levels ahead of the 1.3147 levels.
On the 4-hour chart, the pair is bearish below 1.3523 levels, support comes around 1.3450 with a break below here opening the way to 1.3370, below this level will bring a free fall to the 1.3147 levels.Above 1.3523 will aim the 1.3600 levels.
Alternatively, a failure to hold below the 1.3450 levels on a daily closing basis could mean a return to the 1.3551/1.3656 levels, a break will retire the upside momentum and turn the focus on the 1.3835 levels ahead of the 1.4000 levels.
Today, the global financial markets will shift their focus to U.S consumer confidence, new home sales, and the highest importance Fed Chair Yellen’s speak in Cleveland.
as long as 111.32 – broken resistance turns support – holds on a daily closing basis, the USDJPY remains on the upside to the 112.67 levels, a halt is likely and it may turn lower from here but if this fails to happen, next resistance 113.95 levels, further upside, resistance stands at the 114.87 levels.
On the downside, support comes at the 111.32 levels, below that level sees a pullback risk to the 110.25 levels ahead of the 109.54/109.23 levels
Conclusion: The USDJPY continues to face upside threats above the 111.32 levels…