Once again, the AUD/USD found itself around 0.73 territory Thursday, though failed to sustain gains beyond this point. Down 0.24% on the day, a resurgence of bidding entered USD markets amid the latest round of FOMC action, consequently weighing on the commodity currency.
For those who read previous reports, the spotlight was drawn towards 0.7304/0.7282 as a...
XAUUSD is approaching its support at 1211.93 (50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1238.06 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 7% where a corresponding bounce could occur.
NZDUSD is approaching its support at 0.6721 (61.8% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6792 (horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
USDCAD is approaching its resistance at 1.3172 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 1.3102 (61.8% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
AUDNZD is approaching its resistance at 1.0761 (61.8% Fibonacci extension, 38.2% Fibonacci retracement) where it could potentially reverse down to its support at 1.0714 (horizontal swing low support). RSI (55, 5, 3) is approaching its resistance where a corresponding reversal could occur.
The US dollar concluded Wednesday’s session marginally higher against its Japanese counterpart, after reaching a peak of 113.81 amid the US mid-term election results.
Recent buying brought weekly action within close proximity of supply at 115.50-113.85. Note this supply has incredibly strong history. Despite strong selling likely residing around the underside...
AUDCAD is testing its resistance at 0.9519 (61.8% Fibonacci extension, 38.2% & 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.9371 (38.2% Fibonacci retracement, horizontal pullback support). Stochastic (89, 5, 3) is testing its resistance at 96% and there may be bearish divergence with...
AUDJPY is approaching its resistance at 82.31 (100% Fibonacci extension , 38.2% & 61.8% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 81.36 (23.6% Fibonacci retracement , horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal...
EURJPY is approaching its resistance at 130.20 (100% & 61.8% Fibonacci extension , 50% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 129.42 (23.6% Fibonacci retracement , horizontal pullback support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
USDJPY is approaching its resistance at 113.82 (61.8% Fibonacci extension, 76.4% Fibonacci retracement) where it could potentially reverse down to its support at 113.08 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
EURGBP is testing its support at 0.8731 (76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.8854 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is testing its support at 2.4% where a corresponding bounce could occur.
GBPCHF is approaching its resistance at 1.3136 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 1.2784 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 96.7% where a...
NZDCAD is approaching its resistance at 0.8778 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.8558 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 98.3% where a...
NZDJPY is approaching its resistance at 75.58 (100% Fibonacci extension, horizontal swing high resistance) where it could potentially reverse down to its support at 73.71 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 98.8% where a corresponding reversal could occur.
Despite below par UK service PMI data and reports the UK government has imposed a 1-week deadline to resolve the remaining key issues on Brexit with the EU, the GBP/USD ended Monday’s segment marginally on the front foot, up 0.11% (open/close).
Our technical reading shows H4 price is poised to extend recent gains and possibly grapple with its 1.31 handle. Note...
XAUUSD is approaching its resistance at 1239.78 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1220.38 (61.8% Fibonacci extension, 38.2 Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 95% where a...
CADJPY is approaching its resistance at 86.67 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 85.76 (50% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
GBPAUD is approaching its resistance at 1.8194 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.7947 (76.4% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
