The EURUSD dropped from its peak of 1.1060 to retest 1.0900 support zone as market jitters set in before todays onslaught of fundamental data, climaxing with the Fed rate decision. The pair is currently trading at the 1.0950 resistance level, which if holds will see bears try to test 1.0900, 1.0850 and 1.0800 respectively. A close above the 1.0950 zone will see bull power increase as they yet again try to test 1.1000, 1.1060 and beyond.
The stock is retesting the $83-$85 resistance level after bears successfully cleared it earlier in the week. Should the resistance level hold, we will see bears push for 79, 75.50 and 73 respectively. Stochastics are however approaching oversold levels and a close above 85, would open up the way for 87.5 , 90 and the June 2015 peak of 95.
The bears maintained momentum, after successfully defending the 1.5180 resistance level, which ultimately served as our second shoulder in the near perfect head and should pattern which saw traders, who sold the break of the neckline, take profit. resistance is now at 1.5100, 1.51250 and 1.5180. Support can be found at 1.50300, 1.49600 and 1.4900.
The pair is trading in a range between 0.6765 and 0.6740 after bears managed to retrace some loses and will be looking to break below support at 0.6740 in search of the 0.6700 support zone. A break above 0.6765 will see bears scramble to defend 0.67768 as bulls look to retest recent highs at 0.68250.