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!


EUR/USD USD/JPY GBP/USD EUR/GBP USD/ZAR


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:1.0900


Our preference:short positions below 1.0900 with targets at 1.0830 & 1.0810 in extension.


Alternative scenario:above 1.0900 look for further upside with 1.0920 & 1.0940 as targets.


Comment:the RSI shows downside momentum.



USD/JPY Intraday:consolidation.


Pivot:107.95


Our preference:short positions below 107.95 with targets at 107.55 & 107.40 in extension.


Alternative scenario:above 107.95 look for further upside with 108.10 & 108.30 as targets.


Comment:the RSI lacks upward momentum.




GBP/USD Intraday:under pressure.


Pivot:1.2490


Our preference:short positions below 1.2490 with targets at 1.2405 & 1.2370 in extension.


Alternative scenario:above 1.2490 look for further upside with 1.2515 & 1.2540 as targets.


Comment:the RSI shows downside momentum.




EUR/GBP intraday:the upside prevails as long as 0.8667 is support


Our pivot point stands at 0.8667.


Our preference:the upside prevails as long as 0.8667 is support.


Alternative scenario:the downside breakout of 0.8667 would call for 0.8609 and 0.8575.


Comment:the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 0.8712 and 0.8704).




USD/ZAR intraday:under pressure below 18.9620


18.9620 is our pivot point.


Our preference:under pressure below 18.9620.


Alternative scenario:the upside breakout of 18.9620, would call for 19.1620 and 19.2800.


Comment:the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 18.8249 and 18.8045).

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