GBPUSD Backs Off Higher Prices With Eyes On 1.2600
GBPUSD backs off higher prices with eyes on 1.2600 on Monday. Support lies at 1.2600 as it looks for more weakness. Below that level will turn attention to the 1.2550 level. Further down, support comes in at the 1.2500 level where a break will turn focus to the 1.2450 level. Further down, support lies at the 1.2400 level. On the upside, resistance stands at the 1.2700 with a turn above here allowing for additional strength to build up towards the 1.2750 level. Further out, resistance stands at the 1.2800 level followed by the 1.2850 level. On the whole, GBPUSD retains downside pressure.
EURJPY declines with eyes on 121.76 support zone as it holds on its bear pressure. On the downside, support comes in at the 121.00 level where a break if seen will aim at the 120.50 level. A cut through here will turn focus to the 120.00 level and possibly lower towards the 119.50 level. On the upside, resistance resides at the 122.50 level. Further out, we envisage a possible move towards the 123.00 level. Further out, resistance resides at the 123.50 level with a turn above here aiming at the 124.00 level. On the whole, EURJPY retains its broader downside pressure
GOLD trades below key resistance zones as it looks to follow through lower on the back of its price rejection. On the downside, support comes in at the 1,408.00 level where a break will turn attention to the 1,400.00 level. Further down, a cut through here will open the door for a move lower towards the 1,390.00 level. Below here if seen could trigger further downside pressure targeting the 1,380.00 level. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance resides at the 1,420.00 level. Further out, resistance resides at the 1,430.00 level where a break will aim at the 1,440.00 level. A turn above there will expose the 1,450.00 level. Further out, resistance stands at the 1,460.00 level. All in all, GOLD looks to weaken further on corrective pullbacks
GBPUSD looks to follow through lower on further weakness in the days ahead. Support comes in at 1.2550 with a turn below that level shifting focus to the 1.2500 level. Further down, support resides at the 1.2450 level where a break will turn attention to the 1.2400 level. Further down, support lies at the 1.2350 level. Its daily RSI is bearish. On the upside, resistance stands at the 1.2650 with a turn above here allowing for additional strength to build up towards the 1.2700 level. Further out, resistance stands at the 1.2750 level followed by the 1.2800 level. On the whole, GBPUSD retains its downside pressure short term
USDCHF faces additional price strength on rally as we enter a new week. Resistance resides at the 0.9950 level. Above here, resistance lies at the 1.0000 level and then the 1.0050 level. Further out, resistance comes in at the 1.0100 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support is seen at the 0.9850 level with a turn below here opening the door for more decline towards the 0.9800 level. And then the 0.9750 level. Further down, support resides at the 0.9700 level. All in all, USDCHF remains biased to the upside on further correction.
EURUSD weakness targets 1.1181/15 zone as it expects further weakness. Support comes in at the 1.1200 where a violation will turn risk to the 1.1150 level. A break below here will target the 1.1100 level. Further down, support sits at the 1.1050. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance resides at 1.1250 level with a break through there opening the door for further upside towards the 1.1.1300 level. Further up, resistance comes in at the 1.1350 level where a violation will expose the 1.1400 level. All in all, EURUSD expects more weakness in the days ahead.
GOLD nearer term price weakness remains valid as it looks for more weakness. On the downside, support comes in at the 1,390.00 level where a break will turn attention to the 1,380.00 level. Further down, a cut through here will open the door for a move lower towards the 1,370.00 level. Below here if seen could trigger further downside pressure targeting the 1,360.00 level. Conversely, resistance resides at the 1,400.00 level. Further out, resistance resides at the 1,410.00 level where a break will aim at the 1,420.00 level. A turn above there will expose the 1,430.00 level. Further out, resistance stands at the 1,440.00 level. All in all, GOLD looks to strengthen further in the short term.
GBPUSD decline envisaged towards 1.2522 level as we expect more weakness to occur in the days ahead. Support comes in at 1.2500 with a turn below that level shifting focus to the 1.2450 level. Further down, support resides at the 1.2400 level where a break will turn attention to the 1.2350 level. Further down, support lies at the 1.2300 level. On the upside, resistance stands at the 1.2550 with a turn above here allowing for additional strength to build up towards the 1.2600 level. Further out, resistance stands at the 1.2650 level followed by the 1.2700 level. On the whole, GBPUSD retains its downside pressure short term.
USDJPY targets the 109.10 resistance area as it look for price extension. On the upside, resistance comes in at 109.50 level. Above this level will turn attention to the 110.00 level. Further out, we expect a possible move towards the 110.50 level. A cut through here will open the door for more gain towards the 111.00. On the downside, support comes in at the 108.50 level where a break will target the 108.00 level. Below that level will turn focus to the 107.50 level and then lower towards the 107.00 level. On the whole, USDJPY faces further upside threats in the days ahead.
AUDUSD downside pressure remains towards 0.6850 level as we expect more weakness to occur. On the upside, resistance lies at the 1.6950 level. A cut through here will turn attention to the 0.7000 level and then the 0.7150 level where a violation will set the stage for a retarget of the 0.7200 level. Support resides at the 0.6850 level where a breach will aim at the 0.6800 level. Below here will set the stage for a run at the 0.6750 level with a cut through here targeting further downside pressure towards the 0.6700 level. On the whole, AUDUSD faces further downside threats medium term.
EURUSD price strength builds up on 1.1311 region as it closed higher on reversal on Wednesday. Support comes in at the 1.1200 where a violation will turn risk to the 1.1150 level. A break below here will target the 1.1100 level. Further down, support sits at the 1.1050. Conversely, on the upside, resistance comes in at 1.1300 level with a break through there opening the door for further upside towards the 1.1.1350 level. Further up, resistance comes in at the 1.1400 level where a violation will expose the 1.1450 level. All in all, EURUSD looks for more recovery to occur in the days ahead.
USDCHF bear pressure set to extend lower in the new week. Resistance resides at the 0.9900 level. Above here, resistance lies at the 0.9950 level and then the 1.0000 level. Further out, resistance comes in at the 1.0050 level. On the downside, support is seen at the 0.9800 level with a turn below here opening the door for more decline towards the 0.9750 level. And then the 0.9700 level. Further down, support resides at the 0.9650 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on further weakness.
EURUSD eyes further recovery short term as it looks to extend gain in the new week. Support comes in at the 1.1200 where a violation will turn risk to the 1.1150 level. A break below here will target the 1.1100 level. Further down, support sits at the 1.1050. Conversely, on the upside, resistance resides at 1.1300 level with a break through there opening the door for further upside towards the 1.1.1350 level. Further up, resistance comes in at the 1.1400 level where a violation will expose the 1.1450 level. All in all, EURUSD expects more recovery to occur in the days ahead.
NZDUSD Faces More Strength On Corrective Upside Pressure
NZDUSD faces more strength on corrective upside pressure as more gain is likely in the days ahead. Resistance comes in at the 0.6750 level where a break will turn attention to the 0.6800 level. A break of here will have to happen to create scope for a move higher towards the 0.6850 level. Further out, resistance resides at the 0.6900 level. Its daily RSI is bullish and pointing higher suggesting further upside. Support stands at the 0.6700 level. Further down, the 0.6650 level comes in as the next downside target and then the 0.6600 level. All in all, NZDUSD faces further upside pressure on bull pressure.
GBPUSD weakens towards key support located at 1.2439/00 levels. Support comes in at 1.2350 with a turn below that level shifting focus to the 1.2300 level. Further down, support resides at the 1.2250 level where a break will turn attention to the 1.2200 level. Further down, support lies at the 1.2150 level. On the upside, resistance stands at the 1.2500 with a turn above here allowing for additional strength to build up towards the 1.2550 level. Further out, resistance stands at the 1.2600 level followed by the 1.2650 level. On the whole, GBPUSD retains its downside pressure short term.
CRUDE OIL corrective pullback mode remains as more decline is likely in the days ahead. Support lies at the 56.50 level where a break will expose the 56.00 level. A cut through here will set the stage for a run at the 55.50 level. Further down, support comes in at the 55.00 level. Its daily RSI is a bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 57.50 levels. Further out, resistance comes in at the 58.00 level. A break above here will aim at the 58.50 level and then the 59.00 level followed by the 59.50.00 level. All in all, CRUDE OIL remains biased to the downside nearer term on pullback.
EURGBP faces price selloff after rejecting higher prices on Wednesday. This development now leaves risk lower towards the 0.8950 zone. On the downside, support stands at the 0.8900 level where a violation will turn focus to the 0.8850 level. A break below here will aim at the 0.8800 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 0.9050 level with a violation if seen turning risk towards the 0.9100 level. Further up, resistance comes in at 0.9150 level followed by the 0.9200 level. All in all, EURGBP remains biased to the downside on more weakness.
GBPUSD corrective bull pressure remains intact as we look for price extension. Support comes in at 1.2500 with a turn below that level shifting focus to the 1.2450 level. Further down, support resides at the 1.2400 level where a break will turn attention to the 1.2350 level. Further down, support lies at the 1.2300 level. On the upside, resistance stands at the 1.2550 with a turn above here allowing for additional strength to build up towards the 1.2600 level. Further out, resistance stands at the 1.2650 level followed by the 1.2700 level. On the whole, GBPUSD looks to recover further higher on correction.
USDCHF retains its downside pressure as it looks to weaken further in the days ahead. Resistance resides at the 0.9850 level. Above here, resistance lies at the 0.9900 level and then the 0.9950 level. Further out, resistance comes in at the 1.0000 level. On the downside, support is seen at the 0.9750 level with a turn below here opening the door for more decline towards the 0.9700 level. And then the 0.9650 level. Further down, support resides at the 0.9600 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, USDCHF remains biased to the downside on further corrective weakness.
EURUSD consolidates with downside bias as it retains its broader medium term trend. Support comes in at the 1.1200 where a violation will turn risk to the 1.1150 level. A break below here will target the 1.1100 level. Further down, support sits at the 1.1050. Its weekly RSI is bearish and pointing lower suggesting more weakness. Conversely, on the upside, resistance resides at 1.1250 level with a break through there opening the door for further upside towards the 1.1.1300 level. Further up, resistance comes in at the 1.1350 level where a violation will expose the 1.1400 level. All in all, EURUSD expects more weakness to occur in the days ahead.
