EUR/USD

EURUSD is consolidating between the 1.0800 support and the 1.0900 resistance zones as it currently tests the lower bounds at 1.0815. A close above 1.0820 will see the bulls push for the mid-range 1.0850 and finally the 1.0900 pre ECB target zone. However, should the bears close strong, below the 1.0800 support zone, we would expect to see further weakness to retake this year’s low at 1.0770 and beyond to 1.0715 as bears look for dovish comments to help drive the price to their medium term target of parity.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 1.0768 1.0779 1.0795 1.0806 1.0822 1.0833 1.0849
DAILY 1.0784 1.0787 1.0792 1.0795 1.0800 1.0803 1.0808
WEEKLY 1.0523 1.0650 1.0724 1.08541 1.0925 1.1052 1.1126
MONTHLY 1.0058 1.0298 1.0579 1.0819 1.1100 1.1340 1.1621
 

GBP/USD

The GBPUSD finished the week strong and despite making new multi-year lows, found support at 1.40788 which led to a short squeeze as price managed to break the 1.4340 resistance level. Currently the pair is trading below 1.4300 with targets at 1.4250, 1.4205 and 1.4150. Should buying power reappear and the pair closes above 1.43000, we would expect a retest of 1.4340, 1.43618 and eventually 1.4400 as bulls look to reverse some of the recent damage they have experienced.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 1.4212 1.4233 1.4268 1.4289 1.4324 1.4345 1.4380
DAILY 1.4223 1.4238 1.4245 1.4260 1.4267 1.4282 1.4289
WEEKLY 1.3823 1.3951 1.4108 1.4236 1.4393 1.4521 1.4678
MONTHLY 1.4044 1.4383 1.4561 1.4900 1.5078 1.5417 1.5595
 

USD/JPY

USDJPY bulls were stopped at 118.85 as the risk on climate continues to see the JPY lose ground. Should bulls manage a break above 118.85, we would expect to see 119.00, 119.69 and 120.00 being targeted as they look to recapture this years highs. However, a break below 118.415 will confirm the overbought stochastics and see bears target 118.10, 117.85 and 117.50.

USD/JPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 118.06 118.25 118.48 118.67 118.97 119.09 119.33
DAILY 118.28 118.42 118.50 118.64 118.71 118.86 118.93
WEEKLY 113.94 114.95 116.87 117.488 119.80 120.81 122.73
MONTHLY 115.28 117.63 118.98 121.33 122.68 125.03 126.38
 

AUD/USD

The AUDUSD strength was stopped short of the 0.750 resistance level which coincides with the 61.8 % Fibonacci resistance zone drawn from this years high to low. Targets to the south are at 0.6980, 0.6950 and 0.6900. However, should bulls close above 0.7000, expect to see more upside to 0.7050 and the 50% fibo retracement around 0.7070.

AUD/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 0.6941 0.69961 0.6991 0.7011 0.7041 0.7061 0.7091
DAILY 0.6986 0.6993 0.6997 0.7004 0.7008 0.7015 0.7019
WEEKLY 0.6647 0.6736 0.6869 0.6958 0.7091 0.7180 0.7313
MONTHLY 0.68919 0.6955 0.7118 0.7254 0.7417 0.7553 0.7716