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 upside prevails.


Pivot:1.1080


Our preference: long positions above 1.1080 with targets at 1.1105 & 1.1115 in extension.


Alternative scenario:below 1.1080 look for further downside with 1.1070 & 1.1055 as targets.


Comment: the RSI lacks downward momentum.




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USD/JPY Intraday: bullish bias above 108.65.


Pivot:108.65


Our preference: long positions above 108.65 with targets at 108.85 & 109.00 in extension.


Alternative scenario:below 108.65 look for further downside with 108.50 & 108.40 as targets.


Comment: a support base at 108.65 has formed and has allowed for a temporary stabilisation.





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GBP/USD Intraday: key resistance at 1.3160.


Pivot:1.3160 Our preference: short positions below 1.3160 with targets at 1.3105 & 1.3085 in extension.


Alternative scenario:above 1.3160 look for further upside with 1.3185 & 1.3215 as targets.


Comment:as long as the resistance at 1.3160 is not surpassed, the risk of the break below 1.3105 remains high.





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EUR/GBP intraday: as long as 0.8413 is support look for 0.8498


0.8413 is our pivot point.


Our preference:as long as 0.8413 is support look for 0.8498.


Alternative scenario:below 0.8413, expect 0.8381 and 0.8362.


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 (0.8439) but above its 50 MA (0.8423).





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USD/ZAR intraday: above its upper Bollinger band


Our pivot point stands at 14.7260.


Our preference:as long as 14.7260 is support look for 14.9680.


Alternative scenario:below 14.7260, expect 14.6380 and 14.5850.


Comment:the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is above its 20 and 50 MAs (respectively at 14.7917 and 14.7673). Finally, the USD/ZAR is trading above its upper Bollinger band (standing at 14.8054).






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