EUR/USD has moved to the downside and is currently trading around 1.1055-61.8% Fib.- as planned.
The bearishness remains favored as far as moving averages hold and moving below 1.1055 will ease the path towards 1.0950 and 1.0990.
Support: 1.1050-1.1000-1.0950
Resistance: 1.1100-1.1125-1.1200
The USD/JPY has moved upwards as discussed in our technical updates. USD/JPY is presently moving above SMA20 as seen on the daily graph.
More upside actions to be witnessed , supported by RSI moving above 50.00.
A break above 123.70 will accelerate the awaited bullish wave.
Support: 123.10-122.70-122.45
Resistance: 123.70-124.15-125.00
Direction: Up
The USD/CHF pair has moved sharply to the upside after hitting the key resistance-turned into support- at 0.9425.
Our yesterday’s proposed long position –recommended for subscribers- is still in play and we believe that the USDCHF will continue to inch higher.
The path is cleared towards 0.9540 following the aforesaid breakout, but on the other side coming below 0.9385 will give rational reason for concern.
Support: 0.9450-0.9425-0.9385
Resistance: 0.9500-0.9540-0.9590
Direction: Up
Sterling has declined, reaching all previous proposed technical targets and it is currently nearing the second objective of 1.5600.
Technical indicators remain negative, while GBPUSD approaches the main support of the bullish channel.
Stability below 1.5650 is required to maintain levels around 1.5560 and 1.5475.
Support: 1.5600-1.5560-1.5470
Resistance: 1.5650-1.5710-1.5755