Today's Fx Technical Strategies




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:continuation of the rebound.


Pivot:1.1150


Our preference:long positions above 1.1150 with targets at 1.1250 & 1.1290 in extension.


Alternative scenario:below 1.1150 look for further downside with 1.1100 & 1.1055 as targets.


Comment:the RSI shows upside momentum.




USD/JPY Intraday:the bias remains bullish.


Pivot:104.50


Our preference:long positions above 104.50 with targets at 106.10 & 106.65 in extension.


Alternative scenario:below 104.50 look for further downside with 104.05 & 103.55 as targets.


Comment:the RSI shows upside momentum.




GBP/USD Intraday:under pressure.


Pivot:1.2630


Our preference:short positions below 1.2630 with targets at 1.2485 & 1.2420 in extension.


Alternative scenario:above 1.2630 look for further upside with 1.2695 & 1.2775 as targets.


Comment:the RSI is mixed to bearish.




EUR/GBP intraday:the upside prevails as long as 0.8897 is support


Our pivot point stands at 0.8897.


Our preference:the upside prevails as long as 0.8897 is support.


Alternative scenario:below 0.8897, expect 0.8861 and 0.8839.


Comment:the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 0.8901 and 0.8861).



USD/ZAR intraday:as long as 16.4750 is support look for 16.7980


Our pivot point stands at 16.4750.


Our preference:as long as 16.4750 is support look for 16.7980.


Alternative scenario:below 16.4750, expect 16.3660 and 16.3010.


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 trading above both its 20 and 50 MAs (respectively at 16.5376 and 16.4587).

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