EUR/USD

Bears successfully defended 1.1350 and have managed to capture 2 out of the 3 targets set out yesterday, currently they are looking to capture 1.1275 with an eye on closing below 1.1200, which would imply a change in the medium term trend to bearish. Should bulls manage to maintain their composure at 1.1275, they will look to retest 1.1300, 1.1325 and 1.1350 but would have to put up a very convincing fight to beat the bears back at this stage.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1244 1.1272 1.1294 1.1322 1.1344 1.1372 1.1394
WEEKLY 1.1075 1.1178 1.1243 1.1346 1.1411 1.1514 1.1579
MONTHLY 1.1037 1.1125 1.1290 1.1378 1.1543 1.1631 1.1796
 

GBP/USD

GBPUSD bulls were stopped dead in their tracks at 1.4525 as bears threw everything at defending the zone. Currently the pair is trading below 1.4450 with major support at 1.4400. Should bulls capture 1.4450 they will make another run at 1.4500, 1.4525 and 1.4600 as they try to convince markets that the trend has turned bullish. However, should bears capture 1.4400 they will trigger stops making a run for 1.4350, 1.4300 and 1.4250 as they continue the overriding bearish trend.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4256 1.4324 1.4390 1.4458 1.4524 1.4592 1.4658
WEEKLY 1.4098 1.4218 1.4290 1.4410 1.4482 1.4602 1.4674
MONTHLY 1.3520 1.3762 1.4187 1.4427 1.4854 1.5096 1.5521
 

USDJPY

The USDJPY continues to consolidate between the 38.2 and 50 % fibo levels of the more than 600 pip drop since the end of April. No clear direction can be determined yet but with an overall bearish tone surrounding the pair, bears will look to gather momentum by capturing 108.75, which has several factors making it a key support zone, in hopes of turning it into their new base for further assault to the downside as they look to capture 108.50, 108.00 and 107.50. Bulls, despite making slightly higher highs in recent sessions appear to be on shaky ground but have manage to maintain their composure, repeatedly defending 109.00 and 108.75 with great success. Should bulls capture 109.50, thy will look to 110.00, 110.25 and 110.50 as their next targets.

USDJPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.84 108.33 108.68 109.17 109.52 110.01 110.36
WEEKLY 104.74 105.87 107.4 108.37 109.74 110.87 112.24
MONTHLY 96.89 101.58 103.21 107.90 109.53 114.22 115.85
 

AUDUSD

AUDUSD bears defended the H4 50 EMA with precision as they recaptured 0.7350, managing to drive prices below 0.7300 with a clear path to 0.7250 on the cards. A break below 0.7250 will expose the pair to heavy drops as we see little in the way of support until around the 0.7100 level. However, should bulls manage to hold on to 0.7250 or recapture 0.7300, we would see one last ditch attempt at 0.7350 and beyond.

AUDUSD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7185 0.7232 0.7275 0.7322 0.7365 0.7412 0.7455
WEEKLY 0.7055 0.7153 0.7211 0.7309 0.7367 0.7465 0.7523
MONTHLY 0.7100 0.7294 0.7448 0.7642 0.7796 0.7990 0.8144