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:under pressure.


Pivot:1.0880


Our preference:short positions below 1.0880 with targets at 1.0845 & 1.0825 in extension.


Alternative scenario:above 1.0880 look for further upside with 1.0900 & 1.0915 as targets.


Comment:the RSI is mixed to bearish.





USD/JPY Intraday:the bias remains bullish.


Pivot:108.75


Our preference:long positions above 108.75 with targets at 109.10 & 109.25 in extension.


Alternative scenario:below 108.75 look for further downside with 108.60 & 108.45 as targets.


Comment:the RSI shows upside momentum.





GBP/USD Intraday:bullish bias above 1.2365.


Pivot:1.2365


Our preference:long positions above 1.2365 with targets at 1.2420 & 1.2440 in extension.


Alternative scenario:below 1.2365 look for further downside with 1.2340 & 1.2315 as targets.


Comment:a support base at 1.2365 has formed and has allowed for a temporary stabilisation.





EUR/GBP intraday:rebound towards 0.8874


0.8713 is our pivot point.


Our preference:rebound towards 0.8874.


Alternative scenario:below 0.8713, expect 0.8652 and 0.8616.


Comment:the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 0.8763 and 0.8784).





USD/ZAR intraday:the downside prevails as long as 18.3410 is resistance


18.3410 is our pivot point.


Our preference:the downside prevails as long as 18.3410 is resistance.


Alternative scenario:above 18.3410, look for 18.5290 and 18.6410.



Comment:the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 18.1939 and 18.2348).

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