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: under pressure. Pivot:1.1080


Our preference: short positions below 1.1080 with targets at 1.1055 & 1.1045 in extension.


Alternative scenario: above 1.1080 look for further upside with 1.1095 & 1.1110 as targets.


Comment:as long as the resistance at 1.1080 is not surpassed, the risk of the break below 1.1055 remains high.






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USD/JPY Intraday: the upside prevails.


Pivot:108.50


Our preference: long positions above 108.50 with targets at 108.70 & 108.80 in extension.


Alternative scenario: below 108.50 look for further downside with 108.40 & 108.30 as targets.


Comment:the RSI shows upside momentum.





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GBP/USD Intraday: consolidation.


Pivot:1.3160


Our preference: short positions below 1.3160 with targets at 1.3130 & 1.3115 in extension.


Alternative scenario:above 1.3160 look for further upside with 1.3180 & 1.3200 as targets.


Comment:the upward potential is likely to be limited by the resistance at 1.3160.






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EUR/GBP intraday: as long as 0.8390 is support look for 0.8473


Our pivot point is at 0.8390.


Our preference:as long as 0.8390 is support look for 0.8473.


Alternative scenario: the downside breakout of 0.8390 would call for 0.8358 and 0.8339.


Comment:the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is below its 20 MA (0.8416) but above its 50 MA (0.8413).






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USD/ZAR intraday: as long as 14.5940 is support look for 14.8230


14.5940 is our pivot point.


Our preference:as long as 14.5940 is support look for 14.8230.


Alternative scenario:the downside breakout of 14.5940 would call for 14.5060 and 14.4540.


Comment:the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is below its 20 MA (14.6726) but above its 50 MA (14.6471).






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