Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 64
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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Negative sentiment continues to drive the bloc currency lower, with succession of fresh lows posted on a daily basis. The price approaches our initial target at 1.2200, ahead of 1.2150, June 2010 low, loss of which to possibly open way towards psychological 1.2000 level in a short-term. Negative near-term studies keep the downside pressure, with descending 55 day EMA, currently at 1.2265, maintaining the downtrend. Any corrective action will face very strong barriers at 1.2300/35 and only break here will ease bear-pressure.
Res: 1.2245, 1.2265, 1.2300, 1.2333
Sup: 1.2200, 1.2150, 1.2115, 1.2100
GBP/USD
The near-term structure turns negative after yesterdays’s upside rejection at 1.5576 and sharp slide that took out 1.5500 and cracked more significant 1.5460/50, short-term base. Clear break here to open 1.5400, however, overextended hourly conditions suggest corrective bounce preceding fresh weakness. Initial barriers lie at 1.5500/15, with improvement of the larger-picture negative outlook, requiring regain of yesterday’s high at 1.5576.
Res: 1.5480, 1.5500, 1.5515, 1.5550
Sup: 1.5447, 1.5400, 1.5320, 1.5300
USD/JPY
The pair erases its strong gains after yesterday’s rally from 79.12 tested 79.80 barrier and accelerated gains on BOJ’s overnight release, spiking at 79.94, before sharp slide to the lower levels of 79.00/80.00 range. As 80.00 offers very strong barrier, near-term focus turns lower again. Violation of 79..12/00 support would signal fresh bear-phase and expose 78.60 next.
Res: 79.50, 79.78, 80.00, 80.21
Sup: 79.20, 79.12, 79.00, 78.80
AUD/USD
The Aussie’s latest rally off 1.1050 higher base, failed to clear 200 day MA at 1.0270, with weak jobs data from Australia, released overnight, accelerating losses. Fresh weakness under 1.0225/00 support zone, dented key near-term support 1.0150, also 50% of 0.9968/1.0326, dipping to 1.0135 so far, ahead of Fib 61.8% and figure support at 1.0100. Corrective bounce on oversold conditions, signalled on hourly chart, faces barriers at 1.0180/1.0200, while only regain of 1.0240 would turn near-term focus higher and re-focus 200 day MA at 1.0270.
Res : 1.0177, 1.0200, 1.0225, 1.0243
Sup : 1.0135, 1.0125, 1.0100, 1.0076
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The hourly studies are running out of steam, following last Friday’s strong rally, as risk returned to play. Positive sentiment is fading after weekly gap higher opening, with gap being filled and price testing initial support and higher platform at 1.2225, also 55 day EMA. With hourly indicators started to point lower, limited upside action could be expected, as bears would gain pace on loss of 1.2225/00 supports that will re-expose near-term double bottom at 1.2170 zone. Larger picture’s outlook, however, maintains negative tone, as indicators still hold in red territory, despite some movements higher, still unable to improve the structure. Regain of 1.2290/1.2300, 07 July high / Fib 23.6% of 1.2691/1.2161 descend and 1.2330, 10 July high / 55 day EMA, required to confirm near-term double-bottom and allow for stronger recovery. Otherwise, resumption of broader downtrend through 1.2150, would be looking for test of 1.2000 zone in the short-term.
Res: 1.2243, 1.2254, 1.2270, 1.2300
Sup: 1.2225, 1.2200, 1.2161, 1.2150
GBP/USD
The pair’s strong bounce off 1.5400 base, where near-term support was found, prevented the price form further slide, as rally tested key barrier at 1.5600, also Fib 61.8% of 1.5721/1.5392 downleg. Overextended conditions on hourly chart now see risk of corrective pullback, with indicators pointing lower and initial support at 1.5576 being cracked. Ideally, support should be found above psychological 1.5500, also close to Fib 38.2% of 1.5392/1.5592 upleg and ascending 55 day EMA, as studies on 4H chart broke above the midlines and see potential for further recovery. Break above 1.5600 is required to confirm. On the downside, potential loss of 1.5500 handle would risk return to 1.5460 and 1.5400.
Res: 1.5576, 1.5600, 1.5650, 1.5700
Sup: 1.5545, 1.5515, 1.5500, 1.5460
USD/JPY
The near-term structure remains negative, as the price dents the lower boundary of short-term range, also 200 day MA at 79.00. Steady descend, following the latest upside rejection at 80.00 and indicators in the negative territory on lower and larger timeframes, see risk of clear break below the range, to establish fresh near-term direction and expose initial supports at 78.60 and 78.00. Descending 20 day EMA at 79.28, maintains near-term downtrend, while only break above 79.50, range’s midpoint and 55 day EMA, would delay bears.
Res: 79.12, 79.28, 79.38, 79.50
Sup: 78.95, 78.80, 78.60, 78.00
USD/CHF
Overall bulls remain in play, as the pair undergoes corrective action, on overbought 4h chart conditions. Initial support at 0.9800 zone, so far contains dips, however, descending indicators on 4h chart do not rule out further correction, with reversal ideally seen at /above 0.9740 higher platform and ascending 55 day EMA. Daily structure remains bullish, with break above the latest peak at 0.9871 to open 0.9900 and 0.9950, Fib 61.8% of larger 1.1730/0.7067 descend.
Res: 0.9850, 0.9868, 0.9871, 0.9900
Sup: 0.9807, 0.9784, 0.9765, 0.9736
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The risk on mode, established last Friday, continues to drive the bloc currency higher, on a bounce from 1.2160 zone double bottom. As important 1.2300 barrier has been cracked, though the price unable to hold gains due to overbought hourly conditions, corrective pullback is expected to precede fresh push higher. Initial support at 1.2270/60 zone, should ideally contain reversal, however, further easing towards 1.2240 area, 50% / 55 day EMA, is not ruled out. Indicators on 4h chart are attempting above the midlines and keep the upside in focus, but break above 1.2300 barrier, also 55 day EMA that turns sideways, is required to confirm and open way towards 1.2335, 10 July high and 1.2366, 05 July low / Fib 38.2% of 1.2691/1.2161 descend, to confirm near-term double bottom and trigger stronger recovery. The pair awaits ZEW releases from EU and Germany that are due later today and Bernanke’s testimony, key event of the day.
Res: 1.2300, 1.2311, 1.2335, 1.2366
Sup: 1.2270, 1.2260, 1.2243, 1.2226
GBP/USD
Extends its three-day strong rally off 1.5400 base, as clearance of important 1.5600 barrier accelerated gains through 1.5630, Fib 61.8% of 1.5776/1.5392 downleg, to briefly break above bear-trendline at 1.5655 and hit 1.5677 so far. Hourly studies are toppish, with RSI emerging of overbought zone, as the price moves lower on corrective pullback. Dips should not exceed 1.5600 handle, where yesterday’s intraday high, Fib 38.2% of 1.5521/1.5677 upleg and 55 day EMA lie, for fresh push higher and test of another significant hurdles at 1.5700/21.
Res: 1.5677, 1.5700, 1.5721, 1.5776
Sup: 1.5620, 1.5600, 1.5592, 1.5576
USD/JPY
The pair’s clear break below key 79.00 support zone, confirms negative short-term structure, as initial support at 78.80 has been taken out and losses approached the next significant level at 78.60. Bounce higher is seen corrective, as initial barrier at 79.00, previous support, reinforced by descending 55 day EMA, caps for now. Hourly studies, despite some movements higher, hold in the negative territory, with more negative tone seen on 4h chart. Downside extension through 78.60 would open way towards 78.00 initially, with test of key short-term support at 77.65, seen on a break. Only regain of 79.30/50 zone, would put bears on hold.
Res: 79.00, 79.12, 79.28, 79.38
Sup: 78.80, 78.67, 78.60, 78.00
USD/CHF
The pair remains in a near-term negative mode, extending reversal off 0.9871, 13 July high and approaching important support at 0.9740. Dips were contained at 0.9755, 55 day EMA, as the price undergoes the fourth, corrective wave that should ideally been capped under 0.9800, with the fifth-one expected to stretch towards 0.9700 zone, Fib 38.2% of 0.9461/0.9871 upleg, before bulls reassert. Larger picture’s uptrend, however, remains intact and keeps focus at the upside.
Res: 0.9785, 0.9800, 0.9832, 0.9862
Sup: 0.9765, 0.9736, 0.9714, 0.9700
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Repeated failure at strong 1.2300 barrier resulted in fresh fall that dipped so far to 1.2215, near Fib 61.8% of 1.2161/1.2315 and just above key downside level and trendline support at 1.2200 that was initially seen containing dips. However, negative hourly studies and indicators on 4h chart pointing lower, with price action moving below 20/55 EMA, seeing potential for further weakness. Loss of 1.2200 to open 1.2188/74, ahead of key ones at 1.2161/50, loss of which to resume longer-term downtrend. At the upside, today’s intraday low and 20/55 day EMA’s crossover at 1.2265, offer strong barrier, ahead of key 1.2300/15 zone.
Res: 1.2245, 1.2265, 1.2300, 1.2315
Sup: 1.2215, 1.2200, 1.2188, 1.2174
GBP/USD
Today’s upside rejection under key near-term barrier at 1.5677 has triggered fresh slide that cracked our initial support at 1.5600, dipping to 1.5580 so far. However, holding above 1.5550, yesterday’s higher low, keeps short-term uptrend intact for possible fresh attempt higher but still weak hourly studies and price holding below descending 20 day EMA at 1.5630 zone, sees risk of further easing. Upside break above 1.5630 is required to improve near-term structure and re-focus 1.5667/77 highs, otherwise, risk of losing 1.5550 and extension towards psychological 1.5500, also Fib 61.8% of 1.5392/1.5677 upleg, would be the likely scenario.
Res: 1.5613, 1.5630, 1.5650, 1.5667
Sup: 1.5580, 1.5550, 1.5539, 1.5500
USD/CHF
Bounce of 0.9758, today’s low key near-term support zone, averts immediate downside risk, as the pair surges above 0.9800 barrier. Improved hourly studies are supportive for possible attack at key upside points at 0.9850/70 zone, as 61.8% of 0.9871/0.9750 downleg has been retraced so far. However, still weak conditions on 4h chart do not rule out upside rejection and fresh slide towards 0.9750 base, where 55 day EMA keeps the downside protected for now. Break here to open fresh phase lower and expose to expose 0.9714, Fib 38.2% and 0.9700, round figure support next.
Res: 0.9851, 0.9861, 0.9871, 0.9900
Sup: 0.9800, 0.9768, 0.9758, 0.9750
AUD/USD
The pair’s short-term price action off 1.0100, 12 July low, has fully retraced 05/12 July 1.0326/1.0100 corrective downleg. Consolidation phase on extended short-term conditions is now under way, with yesterday’s break and close above 200 day MA, being supportive for further extension higher, however, clear break above 1.0326, required to confirm and open 1.0368, Fib 61.8% of 1.0855/0.9579, broader downtrend. Immediate support lies at 1.0280 zone, consolidation floor / 55 day EMA, while only loss of 1.0250/40 zone, 16 July high / 17 July low / Fib 38.32%, would soften near-term tone.
Res : 1.0315, 1.0326, 1.0368, 1.0400
Sup : 1.0287, 1.2075, 1.0250, 1.0234
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro failed to clear strong 1.2300 barrier, also 55 day EMA that capped the past two day price action, after today’s rally through 1.2300/15 failed at 1.2322 and subsequent pullback brought the price back under 1.2300 handle. Fresh slide below 20 day EMA, dips to 1.2260, Fib 38.2% of 1.2161/1.2322 ascend so far. As hourly indicators turned lower and 1.2300 proved to be tough barrier, more focus is seen towards the downside. Next supports lie at 1.2241 and 1.2223, 50% / 61.8% retracement, with more significant 1.2215/00 zone, yesterday’s low / bull trendline / round figure support, loss of which would signal an end of short-term corrective phase. On the upside, regain of 1.2335 is required to bring bulls fully in play. Larger picture’s bearish outlook, however, remains intact, with downside targets at 1.2150 and extension towards 1.2000 being in a short-term outlook.
Res: 1.2300, 1.2315, 1.2322, 1.2335
Sup: 1.2260, 1.2241, 1.2223, 1.2215
GBP/USD
The near-term outlook remains positive, as the pair approached initial 1.5700 barrier, with gains being interrupted by dip to 1.5635, where 55 day EMA contained slide. Hourly studies remain supportive, as the price broke and close above 1.5776/1.5721 bear-trendline, however, toppish 4h conditions, with indicators in a sideways mode, see risk of possible further easing, as the pair holds below strong 1.5700/50 resistance zone, where 200 day MA stands. Loss of initial support at 1.5600 would increase downside risk towards 1.5580 and 1.5550.
Res: 1.5677, 1.5693, 1.5700, 1.5721
Sup: 1.5645, 1.5635, 1.5600, 1.5580
USD/JPY
The pair remains at the back foot, as brief bounce through 79.00 barrier, also 200 day MA, failed at 79.15, with subsequent weakness, posting fresh 2 ½ month low at 78.45. This brings short-term bears back in play, as studies on lower timeframes hold in the negative territory. However, overextended hourly conditions, see potential for corrective action, with initial barrier at 78.67, previous low / 20 day EMA being tested so far, ahead of more significant 79.00 and 79.15 levels that are expected to cap for now.
Res: 78.67, 78.80, 79.00, 79.15
Sup: 78.45, 78.09, 78.00, 77.65
USD/CHF
Near-term basing attempt is seen at 0.9750, where 55 day EMA keeps the downside protected for now, despite today’s spike lower. Quick recovery and regain of levels close to 0.9800 handle, sees potential for further extension higher, however, clear break above here and regain of minimum 0.9828, yesterday’s high / Fib 61.8% of 0.9871/0.9745, is required, as near-term structure still holds negative elements. On the downside, the main risk is seen on a break below 0.9750 platform that would signal a resumption of short-term corrective pullback from 0.9871 and expose 0.9700 zone next.
Res: 0.9792, 0.9808, 0.9828, 0.9851,
Sup: 0.9766, 0.9745, 0.9714, 0.9700
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Comes under pressure again in early hours of Europe, as corrective/consolidative action off yesterday’s fresh low at 1.2067 failed to cover the gap, staying capped at 1.2140 zone. As hourly indicators started to point lower and price moves below 20 day EMA, immediate risk is seen on a break below 1.2100 that would open 1.2067 for retest, with possible continuation of bear-trend to test our target at 1.2000. Recovery above 1.2150/80 zone, however, would signal stronger correction, with 1.2200, 50% of 1.2322/1.2067 and 1.2228, 19 July low, to come in focus.
Res: 1.2143, 1.2155, 1.2180, 1.2200
Sup: 1.2100, 1.2067, 1.2050, 1.2040
GBP/USD
The pair undergoes near-term corrective/consolidative action, following two day slide that briefly broke below 1.5500, psychological support, yesterday. Not much upside action has been shown so far, as short-term structure maintains bearish tone and descending 20 day EMA limits the upside at 1.5530 zone. Regain of minimum 1.5550/80 is required to avert immediate downside risk that sees scope for test of 1.5460, 06 July a low and 1.5420, trendline support, ahead of more significant 1.5400 zone.
Res: 1.5534, 1.5552, 1.5580, 1.5600
Sup: 1.5500, 1.5484, 1.5460, 1.5420
USD/JPY
USD/JPY regained some ground off fresh low at 77.93, posted yesterday, but gains were so far capped by descending 55 day EMA at 78.45, well below 78.80 and more significant 79.00 barrier, reinforced by 200 day SMA. Holding above 78.00 handle, would signal further range-trade, however, negative tone that dominates on lower timeframes, keeps focus at the downside, with 77.65 seen as short-term target.
Res: 78.33, 78.45, 78.79, 79.00
Sup: 78.15, 78.00, 77.93, 77.65
USD/CHF
Near-term consolidation off yesterday’s high at 0.9950, Fib 61.8% of larger 1.1730/0.7067 descend, holds at 0.9900 zone, initial support, with hourly studies being in positive /neutral mode, as lack of momentum, keeps the near-term price action under 0.9950. Overall bullish tone keeps the upside favored, with clearance of 0.9950 to open parity level next. However, further reversal under 0.9875, last week’s close / 13 July previous high and Fib 38.2% of 0.9745/0.9950 upleg, would signal stronger correction.
Res: 0.9922, 0.9950, 1.0000, 1.0046
Sup: 0.9887, 0.9875, 0.9851, 0.9823
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Negative sentiment continues to push the price towards our target and psychological support at 1.2000, with fresh low at 1.2042, seen so far. Yesterday’s close below 1.2100 and indicators below their midlines, keep the downside favored. However, bullish divergence, forming on hourly chart, may signal corrective action before attempting at 1.2000, with 1.2100/40 zone offering initial resistance, ahead of more important 1.2200 zone, break of which is required to provide relief.
Res: 1.2077, 1.2100, 1.2143, 1.2155
Sup: 1.2052, 1.2042, 1.2020, 1.2000
GBP/USD
Near-term price action moves sideways, with hourly studies in a neutral/negative mode. The upper side of range is seen well protected by descending 55 day EMA, as the pair approaches the lower boundary and near-term base at 1.5485, loss of which to open 1.5460, 06 July low and 1.5420, bull trendline off 1.5267, ahead of important 1.5400 zone, 08 June / 12 July lows. Any stronger bounce needs to clear minimum 1.5600 to ease current bear pressure.
Res: 1.5516, 1.5534, 1.5552, 1.5580
Sup: 1.5485, 1.5460, 1.5420, 1.5400
USD/JPY
The pair maintains near-term sideways mode, with bias aligned towards the downside, as corrective bounce from 77.93 faced strong barrier at 78.45, where 55 day EMA limited gains. However, holding above 78.00 handle, keeps the downside protected for now, but negative tone on lower timeframes keeps initial target at 77.65 in near-term focus. At the upside, 78.45 acts as initial barrier, ahead of strong 78.80/79.00 zone, daily Ichimoku cloud base / 200 day SMA.
Res: 78.23, 78.33, 78.45, 78.79
Sup: 78.06, 78.00, 77.93, 77.65
USD/CHF
The pair resumes its strong rally towards the parity level, after brief consolidation was contained at 0.9900, initial support zone. Clearance of 0.9950 has so far seen 0.9970, however, hourly MACD bearish divergence and 4-hour studies in overbought territory, may signal further hesitation ahead of very important barriers at 1.0000 and 1.0046, 200 day SMA. Any reversal under 0.9900, would signal stronger correction and expose 0.9850/00 next.
Res: 0.9950, 0.9970, 1.0000, 1.0046
Sup: 0.9900, 0.9887, 0.9875, 0.9851
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Consolidates the latest rally, moving within 1.2113/68 range, with positive tone on hourly chart, seeing potential for further retracement. Break above important 1.2200 barrier, 55 day EMA and Fib 23.6% of 1.2691/1.2042 descend, to confirm near-term base and expose 1.550, Fib 38.2% and key short-term resistances at 1.2300/20 on a break. Only return below 1.2100 would be bearish.
Res: 1.2155, 1.2168, 1.2180, 1.2200
Sup: 1.2127, 1.2123, 1.2100, 1.2052
GBP/USD
Negative tone continues to dominate in the short-term outlook, as the pair continues to post fresh losses, with initial target at 1.5460 being cracked. Trendline support at 1.5430 is seen next, ahead of key 1.5400 platform, loss of which to signal breakout 5-week range and open fresh bear phase, with long-term trendline at 1.5370, seen ahead of yearly low at 1.5267. Barriers at 1.5500/50 are seen capping the upside for now, while only break above 1.5600 would provide relief.
Res: 1.5500, 1.5518, 1.5552, 1.5580
Sup: 1.5457, 1.5430, 1.5400, 1.5392
USD/JPY
Near-term sideways movement continue, with price action moving within narrow range, with 78.00 handle still intact. With neutral hourly and 4h studies aligned lower, the downside remains vulnerable, as loss of 78.00 will open way towards key short-term support at 77.65. On the upside, previous support and 200 day MA at 79.00, offer key barrier and breakpoint, above which to sideline short-term bears.
Res: 78.27, 78.45, 78.79, 79.00
Sup: 78.00, 77.93, 77.65, 77.50
USD/CHF
The pair moves sideways, after pullback from 0.9970 found footstep at strong support at 0.9860/70 zone, previous peak and near 50% of 0.9745/0.9970 ascend. Negative tone on near-term studies sees the downside favored for now, with loss of 0.9860 to allow for stronger reversal and expose 0.9716, Fib 61.8% and figure support at 0.9700. Daily studies, emerging from overbought zone and losing momentum, are supportive for further retracement that would keep upside targets at 0.9970 and 1.0000 on hold.
Res: 0.9900, 0.9920, 0.9950, 0.9970
Sup: 0.9866, 0.9830, 0.9800, 0.9770
Windsor Brokers - Short Term Technical Analysis for Majors (07:30 GMT)
EUR/USD
After a short rally following ECB’s comments, the single currency was rejected at 1.2390 50% Fibo retracement of 1.2747/1.2042 down leg, ahead of good resistance at 1.2410/30 zone / 28 Jun Low, while the effect of the said comments are starting to fade, the pair started a 100 pips pullback ahead of 1.2280 support. Near term studies are showing a potential correction while the pair stay’s below 1.2310. Support is spotted at 1.2280/70 and 1.2240 while resistance at 1.3225 and 1.2350 are in sight.
Res: 1.2310, 1.2325, 1.2350, 1.2390
Sup: 1.2280, 1.2270, 1.2240, 1.2170
GBP/USD
Consolidating below 1.5777, 20th Jun high, after a sharp rise from 1.5470 zone, have given the Cable the momentum to test the said highs, however ECB “What So Ever” comments may not offer support unless they put their words in act. Cable is currently testing the downside of 1.5700 ahead of 1.5665 27th Jul low, while a rise above 1.5725 maybe give a positive tone for a test of 1.5780 zone. A breake of 1.5665 might offer a negative move towards 1.5550 25th July high, a break there would open 1.5400 zone.
Res: 1.5725, 1.5740, 1.5755, 1.5777
Sup: 1.5700, 1.5665, 1.5620, 1.5590
USD/JPY
Friday’s spike was rejected at 78.67 ahead of 78.75 resistance zone of 16th July low, price action showing a potential pull back of the downtrend if the said resistance was broken ahead of 79.15 strong resistance. Only a break below 78.30 and 78.05 would offer a continuation of the downside risk. Only the loss of 78.05 will open the path towards 77.65, 1st of Jun key barrier.
Res: 78.55, 78.75, 78.90, 79.10
Sup: 78.30, 78.05, 77.95, 77.65
AUD/USD
Bounce off 1.0486, 27th July High, back to 1.0449 so far, a break above Friday’s barrier would open the path for more rise towards 1.0570 , 27th March high. Over bought conditions might offer a corrective action ahead of the rise while 1.0425 might offer first support ahead of 1.0400 zone. Studies are showing a mixed signals while the upside is favored.
Res: 1.0475, 1.0486, 1.0520, 1.0557
Sup: 1.0449, 1.0425, 1.0400, 1.0345
Windsor Brokers - Short Term Technical Analysis for Majors (07:30 GMT)
EUR/USD
The pair consolidates after yesterday’s drop that ended at 1.2225 and during the Asian session have tested 1.2290 but failed to break. A retest of 1.2225 is expected today while bears remain in play below 1.2290, Fibo 38.2% pullback of 1.2390/1.2225 fall. A break of 1.2290 would open 1.2325 and 1.2350 next, while a drop below 1.2290 would open the path for 1.2165, 25th of July high, which would allow further down risk on the medium run.
Res: 1.2290, 1.2310, 1.2325, 1.2350
Sup: 1.2225, 1.2185, 1.2170, 1.2120
GBP/USD
Neutral outlook continues after the sideway action that dominated the Cable during the past 30 hours while the pair remains below 1.5770 medium term barrier. Currently consolidating between 1.5665 support and 1.5725 first near term resistance. Range traders remains in play while 1.5675/65 zone remains intact, a drop there would open the path for further downside towards 1.5645 and 1.5590 next, opening 1.5550 5th of July high. On the other hand a break of 1.5725/30 would open 1.5755 and 1.5775 next.
Res: 1.5725, 1.5730, 1.5755, 1.5775
Sup: 1.5675, 1.5665, 1.5590, 1.5550
USD/JPY
After yesterday’s drop, the pair neutral action moved in narrow range while it still holds below 78.40. From the downside, a fall below 78.05 would open 77.95 zone that would trigger further acceleration towards 77.66 1st of Jun low. On the upside, 78.30 would open 78.40, a break on the latter would open way to bulls for a test of 78.68 peak.
Res: 78.30, 78.40, 78.65, 78.95
Sup: 78.10, 77.95, 77.65, 77.35
Gold
The precious have edged higher yesterday towards medium term barrier zone 1640-1635, while yesterday’s action was contained at 1629.20, bears are on call if price action dropped below 1615 and 1610 next, targeting 1600 and 1590 next, below the latter would open further downside towards 1565 zone. On the other hand, the upside is still intact for a continuation of the uptrend; however 1635-40 zone should be the boiling point for a rally higher towards 1670/80 zone and 1700 next.
Res: 1629, 1635, 1640, 1670
Sup: 1615, 1610, 1600, 1590