Daily Fx Technical Analysis

Here are today's directional views from the global research desks of Currency Hedger! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend!


Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

EUR/USD Intraday: bullish bias above 1.1135.


Our preference:long positions above 1.1135 with targets at 1.1170 & 1.1185 in extension.

Alternative scenario:below 1.1135 look for further downside with 1.1120 & 1.1110 as targets.

Comment:a support base at 1.1135 has formed and has allowed for a temporary stabilisation.


USD/JPY Intraday: the upside prevails.


Our preference:long positions above 108.10 with targets at 108.60 & 108.85 in extension.

Alternative scenario:below 108.10 look for further downside with 107.90 & 107.65 as targets.

Comment:the RSI shows upside momentum.


GBP/USD Intraday: intraday support around 1.3105.


Our preference:long positions above 1.3105 with targets at 1.3140 & 1.3165 in extension.

Alternative scenario:below 1.3105 look for further downside with 1.3060 & 1.3015 as targets.

Comment:the RSI is mixed to bullish.


EUR/GBP intraday: the downside prevails as long as 0.8525 is resistance

Our pivot point stands at 0.8525.

Our preference:the downside prevails as long as 0.8525 is resistance.

Alternative scenario:above 0.8525, look for 0.8557 and 0.8576.

Comment:the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.8500 and 0.8497).


USD/ZAR intraday: as long as 14.2590 is support look for 14.5010

14.2590 is our pivot point.

Our preference:as long as 14.2590 is support look for 14.5010. Alternative scenario:below 14.2590, expect 14.1730 and 14.1220.

Comment:the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is above its 20 and 50 MAs (respectively at 14.3381 and 14.2853).


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