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!


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

EUR/USD Intraday:the bias remains bullish.


Our preference:long positions above 1.0920 with targets at 1.0965 & 1.0985 in extension.

Alternative scenario:below 1.0920 look for further downside with 1.0905 & 1.0890 as targets.

Comment:the RSI shows upside momentum.

USD/JPY Intraday:key resistance at 107.85.


Our preference:short positions below 107.85 with targets at 107.45 & 107.25 in extension.

Alternative scenario:above 107.85 look for further upside with 108.10 & 108.35 as targets.

Comment:as long as the resistance at 107.85 is not surpassed, the risk of the break below 107.45 remains high.

GBP/USD Intraday:the bias remains bullish.


Our preference:long positions above 1.2505 with targets at 1.2590 & 1.2630 in extension.

Alternative scenario:below 1.2505 look for further downside with 1.2475 & 1.2440 as targets.

Comment:the RSI is bullish and calls for further advance.

EUR/GBP intraday:rebound towards 0.8826

Our pivot point stands at 0.8661.

Our preference:rebound towards 0.8826.

Alternative scenario:below 0.8661, expect 0.8600 and 0.8564.

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 stands below its 20 and 50 MAs (respectively at 0.8718 and 0.8733).

USD/ZAR intraday:below its lower Bollinger band

Our pivot point stands at 18.2180.

Our preference:the downside prevails as long as 18.2180 is resistance.

Alternative scenario:the upside breakout of 18.2180, would call for 18.4050 and 18.5160.

Comment:the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 18.0926 and 18.0933). Finally, the USD/ZAR is trading below its lower Bollinger band (standing at 18.0391).

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