Today's 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:under pressure.


Our preference:short positions below 1.0970 with targets at 1.0900 & 1.0870 in extension.

Alternative scenario:above 1.0970 look for further upside with 1.1005 & 1.1040 as targets.

Comment:the RSI is mixed to bearish.

USD/JPY Intraday:the upside prevails.


Our preference:long positions above 107.00 with targets at 107.85 & 108.20 in extension.

Alternative scenario:below 107.00 look for further downside with 106.65 & 106.40 as targets.

Comment:the RSI shows upside momentum.

GBP/USD Intraday:consolidation.


Our preference:short positions below 1.2440 with targets at 1.2360 & 1.2330 in extension.

Alternative scenario:above 1.2440 look for further upside with 1.2480 & 1.2520 as targets.

Comment:the RSI lacks upward momentum.

EUR/GBP intraday:the downside prevails as long as 0.8879 is resistance

Our pivot point is at 0.8879.

Our preference:the downside prevails as long as 0.8879 is resistance.

Alternative scenario:above 0.8879, look for 0.8938 and 0.8974.

Comment:the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 0.8835 and 0.8843).

USD/ZAR intraday:as long as 18.0960 is support look for 18.5360

18.0960 is our pivot point.

Our preference:as long as 18.0960 is support look for 18.5360.

Alternative scenario:below 18.0960, expect 17.9310 and 17.8330.

Comment:the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 18.2355 and 18.0925).



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