The USD/JPY pair has moved to the downside before retracing again from 123.00 zones.
It is presently trading around SMA50- colored in red- and it should close again above it to assist us to suggest upside resumption.
RSI14 can’t give off a confirmed signal and ADX signal is weak without confirmation; thus, we will be neutral today.
Of note, coming beneath 123.00 will be a sell signal.
Support: 123.25-123.00-122.60
Resistance:124.00-124.20- 124.50
Direction: Neutral, but bearish below 123.00
Once again, the USD/CHF failed to beat the initial support of 0.9540 as seen on the provided daily chart.
Finding continuous support at this level should assist traders to resume their bullish rally, attempting to breach 0.9710.
Being carried above moving averages is also a positive catalyst that should be added to the strength of the defensive level of 0.9540.
Support: 0.9600-0.9575-0.9540
Resistance: 0.9650-0.9710-0.9755
Direction: Up
EUR/USD succeeded in moving higher, breaching through the main resistance line of the descending channel. The pair has moved above 38.2% Fibonacci at 1.1085.
Moving averages are positive and therefore, we remain bullish on EURUSD, targeting 1.1225 and 1.1230, but trading above 1.1100 is required to fix the weakness sign on ADX and to avoid strong corrective actions.
Support: 1.1035 – 1.1000 – 1.0965
Resistance: 1.1085 – 1.1120 – 1.1200
Direction: Up
The GBP/USD pair has attempted to move higher trading above 1.5560, but it still couldn’t prove stability above this level where 50% Fibonacci exists.
On the other side, RSI trades above 50.00, while the strength of the bullishness increases.
Areas of 1.5470 should be watched out, as trading below it will damage the bullish recovery.
Support: 1.5470 – 1.5400 – 1.5345
Resistance:1.5560 – 1.5600 – 1.5650
Direction: Bullish with potential bearish below 1.5470