Daily 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.


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EUR/USD USD/JPY GBP/USD EUR/GBP USD/ZAR



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


EUR/USD Intraday: the bias remains bullish.


Pivot:1.1125


Our preference:long positions above 1.1125 with targets at 1.1145 & 1.1155 in extension.


Alternative scenario:below 1.1125 look for further downside with 1.1110 & 1.1100 as targets.


Comment:the RSI shows upside momentum.






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USD/JPY Intraday: the bias remains bullish.


Pivot:109.85


Our preference:long positions above 109.85 with targets at 110.20 & 110.35 in extension.


Alternative scenario:below 109.85 look for further downside with 109.70 & 109.60 as targets.


Comment:the RSI shows upside momentum.






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GBP/USD Intraday: key resistance at 1.3005.


Pivot:1.3005


Our preference:short positions below 1.3005 with targets at 1.2975 & 1.2960 in extension.


Alternative scenario:above 1.3005 look for further upside with 1.3030 & 1.3045 as targets.


Comment:the upward potential is likely to be limited by the resistance at 1.3005.







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EUR/GBP intraday: as long as 0.8544 is support look for 0.8629


Our pivot point stands at 0.8544.


Our preference:as long as 0.8544 is support look for 0.8629.


Alternative scenario:the downside breakout of 0.8544 would call for 0.8512 and 0.8492.


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 below its 20 MA (0.8571) but above its 50 MA (0.8566).






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USD/ZAR intraday: eye 14.2290


Our pivot point is at 14.4590.


Our preference:eye 14.2290.


Alternative scenario:above 14.4590, look for 14.5460 and 14.5970.


Comment:the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is below its 20 MA (14.3920) but above its 50 MA (14.3829).






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