GBPUSD inclines gradually after stabilizing above 38.2% Fibonacci at 1.5410-1.5415.
Extending the bullishness is available, but the pair will face hard obstacle at 1.5490. This level should be breached to negate the negative sign on ADX and RSI14 approaching neutrality point at 50.00.
Support: 1.5415 – 1.5380 – 1.5335
Resistance: 1.5450 – 1.5490 – 1.5525
Direction: Up
EURUSD is currently supported above 1.1325 (38.2% Fibonacci) and that is a good factor for buyers, opening the door towards 50% at 1.1400.
A break above 1.1400 will accelerate the bullish tendencies towards 1.1475; noting that, this breakout is essential, as RSI is neutral and ADX shows signs of trend exhaustion.
Support: 1.1325 – 1.1280 – 1.1230
Resistance: 1.1360 –1.1400 – 1.1475
Direction: Up
USDCHF has fallen sharply below 61.8% Fibonacci retracement ahead of the closing of the previous week.
Currently, the pair is flirting with SMA50, but we will depend on failure at 0.9780 to suggest potential downside resumption, reinforced by the upside trend weakness appearing on ADX.
A break below 0.9630 will make the sign on RSI 14 stronger.
Support: 0.9620-0.9550-0.9500
Resistance:0.9750- 0.9780-0.9830
Direction: Bearish
In line with our last technical comment on the USDJPY, the pair has moved to the downside, influenced by the upper shadows formed on the candlesticks of the second half of the previous week.
Coming below SMA20 should bring further debasement over upcoming sessions, as ADX turns into negativity and RSI14 shows signs of momentum weakness.
Coming below 120.00 may accelerate and for subscriber, we hold onto our position.
Support: 120.00-119.30-118.85.
Resistance:120.60-121.00-121.75
Direction: Bearish