NZDUSD is approaching its resistance at 0.6879 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.6801 (horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
EURAUD is approaching its support at 1.5873 (61.8% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.6133 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce could occur.
EURUSD bounced nicely off its support at 1.1452 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, Horizontal swing low support) where it could potentially bounce to its resistance at 1.1570 (Horizontal swing high resistance).
Stochastic (55, 5, 3) is bounced off its support at 4.3% where a corresponding rise could occur.
EURNZD bounced nicely off its support at 1.6782 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.6893 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is bounced off its support at 1.1% where a corresponding rise could occur.
AUDCHF is testing its resistance at 0.7110 (61.8% Fibonacci extension, 61.8 % Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.6970 (38.2% Fibonacci retracement, horizontal swing low support) may occur.
Stochastic (55, 5, 3) has reversed off its resistance at 98% where a corresponding drop may occur.
AUDCAD is testing its resistance at 0.9565 (100% Fibonacci extension, 61.8% & 76.4% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.9465 (38.2% Fibonacci retracement, horizontal swing low support) may occur.
Stochastic (55, 5, 3) has reversed off its resistance at 97% where a corresponding drop may occur.
EUR/USD:
Weekly Gain/Loss: +0.64%
Weekly Close: 1.1468
Weekly perspective:
Despite clocking highs of 1.1569 last week, the pair failed to sustain gains and overpower resistance coming in at 1.1465. Taking the form of a mildly respectable bearish pin-bar pattern, price action concluded the week closing just three pips above the said resistance.
Traders are...
XAUUSD is approaching its resistance at 1298.25 (100% Fibonacci extension, horizontal swing high resistance) where it could potentially reverse down to its support at 1282.40 (Horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
EURUSD bounced nicely off its support at 1.1489 (38.2% & 23.6% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.1567 (horizontal swing high resistance).
Stochastic (34, 5, 3) is bounced off its support at 3.2% where a corresponding rise could occur.
AUDJPY is approaching its resistance at 78.79 (61.8% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it is could potentially reverse down to its support at 75.75 (38.2% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
USDCHF reversed off its resistance at 0.9848 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially drop further to its support at 0.9788 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) reversed off its resistance at 98% where a corresponding drop could occur.
Kicking this morning’s report off with a look at the weekly timeframe, the research team notes price action came within a pip of connecting with its 2017 yearly opening level at 0.7199 Thursday. Although we expect a bounce lower from here, traders still need to prepare for the possibility of a run above this level towards notable resistance standing at...
AUDCAD is approaching its resistance at 0.9537 (100% Fibonacci extension, 61.8% Fibonacci retracement, Horizontal swing high resistance) where it may reverse down to its support at 0.9407 (50% Fibonacci retracement).
RSI (21) is approaching its resistance where a corresponding reversal may occur.
EURAUD is approaching its resistance at 1.6199 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it may reverse down to its support at 1.6061 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal may occur.
AUDNZD is approaching its support at 1.0525 (100% & 61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.0581 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 4.2% where a corresponding bounce could occur.
EURUSD is approaching its resistance at 1.1606 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it may reverse down to its support at 1.1493 (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal may occur.
AUDCHF is approaching its resistance at 0.7033 (100% Fibonacci extension, 50% Fibonacci retracement, Horizontal overlap resistance) where it is expected to reverse down to its support at 0.6891 (38.2% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.
EURCAD is approaching its support at 1.5095 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.5304 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 1.18% where a corresponding bounce could occur.
