USD/CHF
The USD/CHF pair has achieved all targets we detected earlier, touching 38.2% Fibonacci level at 0.9475 as seen on the provided daily chart.
All eyes are on this level, as a break of which will trigger another panic sell-off action, reinforced by the continuous negative signs on moving averages, RSI and ADX.
To summarize this, we need a break below 0.9475 to follow the trend to more downside targets.
Support: 0.9470-0.9400-0.9350
Resistance: 0.9535-0.9600-0.9630
Direction: Bearish
USD/JPY
The USD/JPY pair has collapsed, reaching all previous defined targets after clearing the supports of the triangle and the horizontal support of 118.60 as well.
The negative signs become stronger due to trading below these important levels and thus, we remain bearish on the pair, aiming to challenge 117.60 followed by 116.80 over short-term basis.
Note that moving averages are covering the bearishness and try to overlap negatively.
Support: 118.00-117.60-117.25
Resistance: 118.60-119.00-119.60
Direction: Bearish
EUR/USD
EUR/USD declines after failing to stabilize above 1.1460 and is currently trading below the support line.
Meanwhile, RSI becomes negative and ADX becomes weaker, and that offers contrarian between trading above 1.1420 and below support line. Therefore, we will be neutral for now.
Support: 1.1420 – 1.1385 – 1.1310
Resistance: 1.1460 –1.1505 – 1.1555
Direction: Neutral
GBP/USD
Following yesterday’s sharp incline, GBP/USD trades below the resistance line seen on the chart. Despite the positivity on technical indicators, RSI14 shows overbought signal.
Hence, we will be neutral, as trading above 1.5445 is positive, while trading around resistance line is very sensitive and we need to see how the GBP/USD pair will behave in the current trading levels.
Support: 1.5445 – 1.5400 – 1.5380
Resistance: 1.5500 – 1.5540 – 1.5595
Direction: Neutral