Todays Fx Technical Analysis




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.


Pivot:1.1060


Our preference: long positions above 1.1060 with targets at 1.1080 & 1.1090 in extension.


Alternative scenario: below 1.1060 look for further downside with 1.1050 & 1.1045 as targets.


Comment:the RSI shows upside momentum.










USD/JPY Intraday: consolidation.


Pivot:108.70


Our preference: short positions below 108.70 with targets at 108.45 & 108.35 in extension.


Alternative scenario: above 108.70 look for further upside with 108.85 & 109.00 as targets.


Comment: a break below 108.45 would trigger a drop towards 108.35.






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GBP/USD Intraday: further advance.


Pivot:1.3135


Our preference: long positions above 1.3135 with targets at 1.3190 & 1.3210 in extension.


Alternative scenario:below 1.3135 look for further downside with 1.3120 & 1.3100 as targets.


Comment: the RSI shows upside momentum.






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EUR/GBP intraday: rebound towards 0.8468


Our pivot point stands at 0.8385.


Our preference: rebound towards 0.8468.


Alternative scenario: below 0.8385, expect 0.8354 and 0.8335.


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 0.8416 and 0.8426).






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USD/ZAR intraday: the downside prevails as long as 14.6880 is resistance


Our pivot point stands at 14.6880.


Our preference: the downside prevails as long as 14.6880 is resistance.


Alternative scenario: above 14.6880, look for 14.7750 and 14.8280.


Comment:the RSI is below its neutrality area at 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 14.6232 and 14.6306).





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