AUDUSD: With AUDUSD remaining weak and vulnerable in a corrective mode after losing steam at the 0.9460 level the past week, further downside pressure is envisaged. Support lies at the 0.9334 level where a break will aim at the 0.9303/7 levels. A reversal of roles as support is likely to occur. Further down, support comes in at the 0.9250 level followed by the 0.9200 level where a break will turn focus to the 0.9166 level. Resistance resides at the 0.9460 level where a break will aim at the…Continue
USDJPY: Triggers Upside Recovery With Eyes On Further Upside
USDJPY: With USDJPY triggering a recovery higher following through on the back of its Friday gains, the risk is for more gains to occur. Further out, resistance resides at the 102.15 level where a breach will turn focus to the 103.00 level. Further out, resistance is seen at the 103.50 level and then the 104.00 level. Its daily RSI has turned higher supporting this view. On the other…
EURUSD: Although EUR continues to retain its upside bias, it faces the risk of a corrective pullback in the new week. Support lies at the 1.3820 level where a break will aim at the 1.3770 level. Further down, support resides at the 1.3676 level with a loss of there threatening further downside towards the 1.3600 level where a violation will target the 1.3550 level. Conversely, on further strength, the pair will aim at the 1.3900 level followed by the 1.3950 level.…
USDCHF: Closes Lower, Eyes Further Bearishness.
USDCHF: With USDCHF declining strongly to take back almost all of its three weeks gains the past week, the risk is for more weakness to occur. However, watch out for any correction following the mentioned decline. Immediate support lies at the 0.8700 level where a break will turn focus to the 0.8650 level. A cut through here will set the stage for a run at the 0.8600 level and subsequently the 0.8550 level. Its weekly RSI is bearish and…Continue