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. Like what you see? Feel free to forward this to a friend!


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: key resistance at 1.1105.


Pivot:1.1105


Our preference:short positions below 1.1105 with targets at 1.1085 & 1.1070 in extension.


Alternative scenario:above 1.1105 look for further upside with 1.1120 & 1.1130 as targets.


Comment:the upward potential is likely to be limited by the resistance at 1.1105.





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USD/JPY Intraday: the bias remains bullish.


Pivot:110.00


Our preference:long positions above 110.00 with targets at 110.30 & 110.45 in extension.


Alternative scenario:below 110.00 look for further downside with 109.90 & 109.80 as targets.


Comment:the RSI shows upside momentum.






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GBP/USD Intraday: under pressure.


Pivot:1.3020


Our preference:short positions below 1.3020 with targets at 1.2980 & 1.2960 in extension.


Alternative scenario:above 1.3020 look for further upside with 1.3045 & 1.3060 as targets.


Comment:the RSI is mixed to bearish.






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EUR/GBP intraday: as long as 0.8508 is support look for 0.8584


Our pivot point is at 0.8508.


Our preference:as long as 0.8508 is support look for 0.8584.


Alternative scenario:below 0.8508, expect 0.8480 and 0.8463.


Comment:the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is above its 20 and 50 MAs (respectively at 0.8529 and 0.8521).






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USD/ZAR intraday: eye 14.3340


Our pivot point stands at 14.4900.


Our preference:eye 14.3340.


Alternative scenario:the upside breakout of 14.4900, would call for 14.5460 and 14.5800.


Comment:the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is below its 20 MA (14.4531) but above its 50 MA (14.4337).






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