EUR/USD: Support at 5 & 21-DMAs. The EUR sees mixed daily studies with the stochastic recovering in neutral territory but 10-day momentum fading at the zero line. This comes as the market tests the 5 & 21-DMAs, which should offer support at $1.2565/75 ($1.2550 is also 50% of the 28/29 June rally). Bulls will look for this level to provide support for a test of the June highs at $1.2693 and $1.2748.
RES 4: $1.2786 50.0% retracement of $1.3284 to $1.2288
RES 3: $1.2748 High 18 June
RES 2: $1.2715 Daily Bollinger band top
RES 1: $1.2693 High 29 June
LATEST PRICE: $1.2588
SUP 1: $1.2550/65/75 50% level, 21, 5-day moving average
SUP 2: $1.2516 61.8% retracement of 28/29 June recovery
SUP 3: $1.2398/2407 76.4% of June rally, Bollinger band, Low 28 June
SUP 4: $1.2288 Low 1 June
GBP/USD: Holds Above 21-DMA. GBP holds onto gains above the rising 21-DMA of $1.5604 as the daily studies work off weak readings. Trade is well within the Bollinger band, keeping bull’s attention on the 200-DMA and mid-June highs of $1.5753/78. Initial support is from the 5-day moving average of $1.5655.
RES 4: $1.5823 100-day moving average
RES 3: $1.5802 Spike high 18 June, 55-day moving average
RES 2: $1.5753/78 200-day moving average, Bollinger band, High 20 June
RES 1: $1.5723 High 2 July
LATEST PRICE: $1.5672
SUP 1: $1.5604 21-day moving average
SUP 2: $1.5463/86 61.8% retracement of June rally, Low 28 June
SUP 3: $1.5404/40 Low 8 June, Bollinger band
SUP 4: $1.5322 Low 5 June
EUR/JPY: Studies Turn Mixed. EUR/JPY now sees a recovering daily stochastic study, although momentum has slipped back below the zero line as the market recovers the 21-day moving average, which turns initial support with the Tenkan line at Y99.96/99. Main resistance is Fibonacci level at Y101.64, which capped in mid-June.
RES 4: Y102.77 Low 9 May
RES 3: Y101.90/102.07 High 22 May, Base of the Ichimoku cloud, 2% MAE
RES 2: Y101.63/64/67 High 21 June, 38.2% of Y111.42-Y95.59, 55-DMA
RES 1: Y101.40 Bollinger band, High 29 June
LATEST PRICE: Y100.43
SUP 1: Y99.96/99 21-day moving average, Tenkan line
SUP 2: Y98.34/60/66 Low 28 June, Kijun line, Bollinger band
SUP 3: Y98.07 2% MAE
SUP 4: Y97.89 61.8% retracement of June rally
USD/JPY: Holds Below Ichimoku Cloud. The pair holds below the base of the Ichimoku cloud of Y80.02. The daily studies remain quite neutral but while Y80.63 remains the high, Fibonacci levels include Y79.38 and Y78.79. The 21-DMA may also prove important support, at Y79.54, having marked the top of the Apr/Jun downtrend well. Main resistance is that Y80.63 high.
RES 4: Y81.55/68 Top of the Ichimoku cloud, 61.8% of Y84.16-Y77.66
RES 3: Y80.91/81.39 50% retracement of Y84.16-Y77.66, 2% MAE
RES 2: Y80.61/63 100-day moving average, High 2 May, 25 June
RES 1: Y80.02/25 Base of the Ichimoku cloud, Bollinger band
LATEST PRICE: Y79.78
SUP 1: Y79.14/38/54 Kijun line, 61.8% of 15 June rally, 21-DMA
SUP 2: Y78.62/79 Low 15 June, Bollinger, 61.8% of June rally
SUP 3: Y78.20 2% MAE
SUP 4: Y77.66 Low 1 June
EasyForexNews Research Team