Source: Visual Chart
EUR/USD price action continues to give clues that we are in the midst of an ongoing free-fall, which is likely to threaten 1.3608, Tuesday's low, before the pair breaks into fresh trend lows. EUR negative headlines keep pouring in with no time for meaningful correction on the pair, and yesterday's 1.3800 retest may be the highest the rate gets for quite some time. Only a close above 1.3840, July swing low, would shift the focus to the upside.
Support levels: 1.3710 1.3660 1.3620
Resistance levels: 1.3785 1.3830 1.3860
Source: Visual Chart
Bearishness is dominant, confirmed by topside failure of 1.6000 wih subsequent break of support at 1.5885. Next key level of support to be targeted lies at 1.5850, Oct 18 high, and then 1.5715, Oct 14 low. A close above yesterdays highs (1.6093) would shift focus to the upside, very unlikely as risk traders head to the exits.
Support levels: 1.5930 1.5890 1.5850
Resistance levels: 1.5960 1.5990 1.6020
Source: Visual Chart
The USD/JPY remained in its immutable range just above the 38.2% retracement of the post intervention rally, around 78.00. Hourly momentum is flat around 100, 20 SMA is also flat lacking direction. The pair still holds above the 100 DMA currently around 77.80 and immediate support, while 200 DMA is located far above current price around 79.85. Seems quite unlikely the pair will be able to reach such level easily in the short term, that will signal, if broken a bullish continuation run over the midterm.
Support levels: 77.80 77.50 77.20
Resistance levels: 78.35 78.60 79.00
Source: Visual Chart
Buying dips remains favoured, potentially targeting 0.9300, Oct swing high. The price continues to hold above the 200-day MA, but is finding now resistance at the 20-day MA. A break of either extreme will hint further directions, with the odds increasing for a break of the latter as risk fades.
Support levels: 0.8850 0.8900 0.8950
Resistance levels: 0.8800 0.8730 0.8650
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