Todays 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: consolidation.


Our preference:short positions below 1.1090 with targets at 1.1065 & 1.1055 in extension.

Alternative scenario:above 1.1090 look for further upside with 1.1100 & 1.1115 as targets.

Comment:the RSI is bearish and calls for further downside.


USD/JPY Intraday: under pressure.


Our preference:short positions below 108.70 with targets at 108.45 & 108.25 in extension.

Alternative scenario:above 108.70 look for further upside with 108.85 & 109.05 as targets.

Comment:the RSI is mixed to bearish.


GBP/USD Intraday: the upside prevails.


Our preference:long positions above 1.2980 with targets at 1.3010 & 1.3025 in extension.

Alternative scenario:below 1.2980 look for further downside with 1.2965 & 1.2950 as targets.

Comment:the RSI lacks downward momentum.


EUR/GBP intraday: rebound towards 0.8580

Our pivot point stands at 0.8496.

Our preference:rebound towards 0.8580.

Alternative scenario:the downside breakout of 0.8496 would call for 0.8464 and 0.8444.

Comment:the RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.8526 and 0.8532).


USD/ZAR intraday: as long as 14.5740 is support look for 14.8020

Our pivot point is at 14.5740.

Our preference:as long as 14.5740 is support look for 14.8020.

Alternative scenario:below 14.5740, expect 14.4870 and 14.4340.

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 above its 20 and 50 MAs (respectively at 14.6375 and 14.6246).


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