Fx Technical Analysis Update





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



EUR/USD Intraday: consolidation.


Pivot:1.1145


Our preference:short positions below 1.1145 with targets at 1.1120 & 1.1110 in extension.


Alternative scenario:above 1.1145 look for further upside with 1.1155 & 1.1170 as targets.


Comment:the RSI is mixed to bearish.





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USD/JPY Intraday: continuation of the rebound.


Pivot:108.50


Our preference:long positions above 108.50 with targets at 108.85 & 109.00 in extension.


Alternative scenario:below 108.50 look for further downside with 108.40 & 108.30 as targets.


Comment:the RSI shows upside momentum.







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GBP/USD Intraday: under pressure.


Pivot:1.3230


Our preference:short positions below 1.3230 with targets at 1.3140 & 1.3105 in extension.


Alternative scenario:above 1.3230 look for further upside with 1.3260 & 1.3290 as targets.


Comment:the RSI shows downside momentum.







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EUR/GBP intraday: the upside prevails as long as 0.8421 is support


Our pivot point stands at 0.8421.


Our preference:the upside prevails as long as 0.8421 is support.


Alternative scenario:the downside breakout of 0.8421 would call for 0.8389 and 0.8370.


Comment:the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 0.8434 and 0.8429).





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USD/ZAR intraday: rebound towards 14.8280


Our pivot point is at 14.5840.


Our preference:rebound towards 14.8280.


Alternative scenario:below 14.5840, expect 14.4960 and 14.4440.


Comment:the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair is trading above its 20 MA (14.6696) but under its 50 MA (14.6933).





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