AUDUSD Threatens Further Weakness Towards The 0.6700 Zone
AUDUSD threatens further weakness towards the 0.6700 level in the new week. On the upside, resistance lies at the 1.6800 level. A cut through here will turn focus to the 0.6850 level and then the 0.6900 level where a violation will set the stage for a retarget of the 0.6950 level. Support lies at the 0.6700 level where a breach will aim at the 0.6650 level. Below here will open the door for a run at the 0.6600 level and then the 0.6550 level. On the whole, AUDUSD faces further downside threats on more weakness.
GBPUSD Sets Up To Pullback Further On Price Extension
GBPUSD with the pair extending its correction during Monday trading session, further decline is expected in the days ahead. Support comes in at 1.2400 area with a break below that level turning attention to the 1.2350 level. Further down, support lies at the 1.2300 level where a violation will shift focus to the 1.2250 level. Below here will open the door towards the 1.2200 level. On the upside, resistance is located at the 1.2500 with a break above there allowing for morel 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 on correction.
USDJPY Outlook Remains Lower Towards The 106.75 Area
USDJPY outlook remains lower towards the 106.75 area, its key support. On the upside, resistance comes in at 108.00 level. Above this level will turn attention to the 108.50 level. Further out, we expect a possible move towards the 109.00 level on a break of that area, A cut through here will open the door for more gain towards the 109.50. On the downside, support lies at the 107.00 level where a break will target the 106.50 level. Below that level will turn focus to the 106.00 level and then lower towards the 105.50 level. On the whole, USDJPY faces further downside pressure.
GBPJPY looks to weaken further lower as it retains its corrective pressure. On the downside, support comes in at the 132.50 level where a violation will aim at the 132.00 level. A break below here will target the 131.50 level followed by the 131.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 133.50 level followed by the 134.00 level. A cut through that level will set the stage for a move further higher towards the 134.50 level. Further out, resistance resides at the 135.00 level. All in all, GBPJPY remains biased to the downside on further correction.
AUDUSD Risk Remains Lower Towards 0.6700 Support Zone
AUDUSD threatens further downside pressure as it looks to decline further towards the 0.6700 support zone. On the downside, resistance lies at the 1.6650 level. A cut through here will turn focus to the 0.6600 level and then the 0.6550 level where a violation will set the stage for a retarget of the 0.6500 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 0.6800 level where a breach will aim at the 0.6850 level. Below here will open the door for a run at the 0.6900 level and then the 0.6950 level. On the whole, AUDUSD faces further downside threats
USDJPY looks to strengthen further as more gain is expected towards its key resistance at 108.47. On the upside, resistance comes in at 108.40 level. Above this level will turn attention to the 109.00 level. Further out, we expect a possible move towards the 109.50 level on a break of that area, A cut through here will open the door for more gain towards the 110.00. On the downside, support lies at the 107.50 level where a break will target the 107.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 106.00 level. On the whole, USDJPY faces further upside pressure on possible trend resumption
USDCHF with the pair continuing to hesitate directional move is now a challenge. Resistance stands at the 0.9950 level. Above here will open the door for a move towards the 1.0000 level and then the 1.0050 level. Further out, resistance stands at the 1.0100 level. On the downside, support is located 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 comes in at the 0.9700 level. All in all, USDCHF remains biased to the upside on further price extension.
EURUSD retains its medium term downtrend as it looks for more weakness in the new week. Support comes in at the 1.0900 where a break will turn risk to the 1.0850 level. A breach below here will target the 1.0800 level. Further down, support stands at the 1.0750. Conversely, on the upside, resistance comes in at 1.1000 level with a violation of there opening the door for further gain towards the 1.1050 level. Further up, resistance lies at the 1.1100 level. A cut through that level will clear the way for a move towards the 1.1150 level. All in all, EURUSD expects more weakness in the days ahead
USDJPY eyes further upside pressure on corrective recovery as it closed higher on Monday. On the upside, resistance comes in at 108.50 level. Above this level will turn attention to the 109.00 level. Further out, we expect a possible move towards the 109.50 level on a break of that area, A cut through here will open the door for more gain towards the 110.00. On the downside, support lies at the 107.50 level where a break will target the 107.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 106.00 level. On the whole, USDJPY faces further downside pressure.
AUDUSD threatens further downside pressure as it sold off on Tuesday. On the downside, support lies at the 1.6650 level. A cut through here will turn focus to the 0.6600 level and then the 0.6550 level where a violation will set the stage for a retarget of the 0.6500 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 0.6750 level where a breach will aim at the 0.6800 level. Below here will open the door for a run at the 0.6850 level and then the 0.6900 level. On the whole, AUDUSD faces further downside threats medium term.
GBPUSD rallied on Thursday as it followed through higher on the back of its Wednesday gain. Support lies at 1.2350 area with a break below that level turning attention to the 1.2300 level. Further down, support lies at the 1.2250 level where a violation will shift focus to the 1.2200 level. Below here will open the door towards the 1.2150 level. On the upside, resistance is located at the 1.2450 with a break above there allowing for morel strength to build up towards the 1.2500 level. Further out, resistance stands at the 1.2550 level followed by the 1.2600 level. On the whole, GBPUSD retains its corrective upside pressure.
NZDUSD Remains On The Offensive On Recovery Pressure
NZDUSD the pair faces further corrective recovery as it closed higher the past week. Support lies at the 0.6250 level where a break will turn attention to the 0.6200 level. A break of here will have to happen to create scope for a move higher towards the 0.6150 level. Further out, resistance resides at the 0.6100 level. Resistance stands at the 0.6350 level. Further down, the 0.6400 level comes in as the next downside target and then the 0.6450 level. All in all, NZDUSD faces further recovery threats in the new week.
EURUSD Halts Weakness With Upside Pressure Envisaged.
EURUSD with a halt in price occurring on Friday, more strength is expected in the new week. Support comes in at the 1.0950 where a break will turn risk to the 1.0900 level. A breach below here will target the 1.0850 level. Further down, support stands at the 1.0800. Conversely, on the upside, resistance comes in at 1.1000 level with a violation of there opening the door for further gain towards the 1.1050 level. Further up, resistance lies at the 1.1100 level. A cut through that level will clear the way for a move towards the 1.1150 level. All in all, EURUSD expects more gain in the days ahead.
GOLD eyes further recovery pressure as it closed higher the past week. On the downside, support sits at the 1,500.00 level where a break will turn focus to the 1,490.00 level. Further down, a cut through here will open the door for a move decline towards the 1,480.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,470.00 level. Conversely, resistance resides at the 1,520.00 level. Further out, resistance resides at the 1,530.00 level where a break will aim at the 1,540.00 level. A turn above there will expose the 1,550.00 level. Further out, resistance stands at the 1,560.00 level. All in all, GOLD looks to correct further higher.
CRUDE OIL faces risk of further corrective upside pressure after bouncing off its key support at 50.50 the past week. Support lies at the 53.50 level where a break will expose the 53.00 level. A cut through here will set the stage for a run at the 52.50 level. Further down, support comes in at the 52.00. On the upside, resistance resides at the 54.50 levels. Further out, resistance comes in at the 55.00 level. A break above here will aim at the 55.50 level and then the 56.00 level followed by the 56.50 level. All in all, CRUDE OIL remains vulnerable nearer term.
GBPJPY looks to weaken further on price sell off as it retains its broader medium term weakness. On the downside, support comes in at the 130.50 level where a violation will aim at the 130.00 level. A break below here will target the 129.50 level followed by the 129.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 131.00 level followed by the 131.50 level. A cut through that level will set the stage for a move further higher towards the 132.00 level. Further out, resistance resides at the 132.50 level. All in all, GBPJPY remains biased to the downside on further price weakness.
USDCAD Broader Bias Remains Higher Towards 1.3383 Zone
USDCAD broader bias remains higher towards 1.3383 zone. Support lies at the 1.3300 level where a violation will aim at the 1.3250 level. Further down, support comes in at the 1.3200 level where a break lower may occur. This if seen will trigger further weakness towards the 1.3150 level. Conversely, resistance stands at the 1.3350 level where a break will target the 1.3400 level. Further up, resistance resides at the 1.3450 level and then the 1.3500 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, USDCAD looks to strengthen further.
USDCHF Remains Biased To The Upside Towards 1.0027 Zone
USDCHF with the pair retaining its upside pressure, more gain is expected to happen in the new week. Resistance comes in at the 1.0027 level. Above here, resistance lies at the 1.0050 level and then the 1.0100 level. Further out, resistance stands at the 1.0150 level. On the downside, support is located at the 0.9900 level with a turn below here opening the door for more decline towards the 0.9850 level. And then the 0.9800 level. Further down, support comes in at the 0.9750 level. All in all, USDCHF remains biased to the upside in the days ahead.
EURUSD Targets Further Upside Pressure With Eyes On 1.1109 Zone
EURUSD eyes further upside pressure following its second week of strength the past week. Support comes in at the 1.1000 where a break will turn risk to the 1.0950 level. A breach below here will target the 1.0900 level. Further down, support stands at the 1.0850. Conversely, on the upside, resistance comes in at 1.1050 level with a violation of there opening the door for further gain towards the 1.1100 level. Further up, resistance lies at the 1.1150 level. A cut through that level will clear the way for a move towards the 1.1200 level. All in all, EURUSD expects more gain in the days ahead.
GBPUSD Sees Price Extension With Eyes On 1.2900 Zone
GBPUSD with the pair extending its strength, more price gain is expected in the days ahead. Support lies at 1.2800 area with a break below that level turning attention to the 1.2750 level. Further down, support lies at the 1.2700 level where a violation will shift focus to the 1.2650 level. Below here will open the door towards the 1.2600 level. On the upside, resistance is located at the 1.2900 with a break above there allowing for morel strength to build up towards the 1.2950 level. Further out, resistance stands at the 1.3000 level followed by the 1.3050 level. On the whole, GBPUSD retains its upside pressure as it eyes further strength.
