EURUSD fell further through on a failure to overtake the 1.2345 resistance figure, declining to below the pivotal 1.2300. Although an extension to 1.2150 support is plausible, technical indications are now turning a bit bullish. Stochastic signals are now widely oversold and compliment a nascent 5th wave bearish impulse – supporting the notion.
Support levels: 1.2245 1.2210 1.2165
Resistance levels: 1.2285 1.2300 1.2330
GBPUSD consolidated following yesterday’s move higher off of 1.5474 support. The barrier is being reinforced by 1.5456 support and is likely to hold in the short term. As a result, any retracement higher would see formidable barriers in the 1.5683 38.2% fib resistance.
Support levels: 1.5490 1.5455 1.5420
Resistance levels: 1.5550 1.5590 1.5620
USDJPY has fallen through support at 79.50, a key break given the 77.65-78.78 ascending trendline support. Although a short correction can be anticipated, a more likely extension of the decline is probably to subsequent support at 78.82. Any reversal of the bearish trend requires a violation of 79.98 resistance.
Support levels: 79.20 78.80 78.40
Resistance levels: 79.45 79.80 80.10
Seemingly a bit toppish, USDCHF has failed to close above the 0.9800 figure, as resistance at 0.9850 looms. The inability of buyers to fully penetrate above the psychological level is indicative of a short term turn in the trend, exposing support levels below at the 0.9659 June 29th high. Stochastic oscillator is supportive of the sentiment, signaling overbought conditions.
Support levels: 1.0180 1.0150 1.0120
Resistance levels: 1.0220 1.0250 1.0280
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