EUR/USD: Holds Under 21-Day Moving Average. The euro recently saw a bear-cross in the daily stochastic study and now slides under the 21-day moving average at $1.2532. Bears need to sustain trade under here to turn attention back to the $1.2288 June low.
RES 4: $1.2786 50.0% retracement of $1.3284 to $1.2288
RES 3: $1.2748 High 18 June
RES 2: $1.2705 Daily Bollinger band top
RES 1: $1.2522/32 5, 21-day moving average
LATEST PRICE: $1.2500
SUP 1: $1.2437/41 Low 8, 26 June
SUP 2: $1.2398 76.4% retracement of June rally
SUP 3: $1.2370 Daily Bollinger band base
SUP 4: $1.2288 Low 1 June
GBP/USD: Finds Support at 21-DMA. GBP also saw the daily stochastic study form a bear-cross as the market tested the 21-DMA of $1.5547. This level remains support along with a 50% retracement of the June rally at $1.5525 as the market recovers over the 5-DMA of $1.5605. Fibonacci retracements of the pullback from 20 June are $1.5659 and $1.5687 ahead of a minor resistance line at $1.5707.
RES 4: $1.5826/29 55, 100-day moving average
RES 3: $1.5802 Spike high 18 June
RES 2: $1.5750/78 200-day moving average, Bollinger band, High 20 June
RES 1: $1.5707 Minor resistance line from 30 April
LATEST PRICE: $1.5635
SUP 1: $1.5525/39/47 50% of June rally, Low 25 June, 21-day moving average
SUP 2: $1.5463 61.8% retracement of June rally
SUP 3: $1.5404 Low 8 June
SUP 4: $1.5322/28 Low 5 June, Bollinger band
USD/JPY: Back Below Ichimoku Cloud. The pair slips back below the base of the Ichimoku cloud of Y80.09 and below the Y79.62/87 Tenkan line and 5 & 55-DMAs, which offer initial resistance. The daily studies did not support the move higher but are yet to weaken significantly. While Y80.63 remains the high, Fibonacci levels are at Y79.38, Y78.79. The 21-DMA may also prove important support, at Y79.25.
RES 4: Y81.60/68 Top of the Ichimoku cloud, 61.8% of Y84.16-Y77.66
RES 3: Y80.91/81.10 50% retracement of Y84.16-Y77.66, 2% MAE
RES 2: Y80.55/63 100-day moving average, High 16, 2 May, 25 June
RES 1: Y80.09/30/40 Base of the Ichimoku cloud, 1% MAE, Bollinger
LATEST PRICE: Y79.46
SUP 1: Y79.14/25/38 Kijun line, 21-DMA, 61.8% of 15 June rally
SUP 2: Y78.62/70/79 Low 15 June, 1% MAE, 61.8% of June rally
SUP 3: Y77.66/90 Low 1 June, 2% MAE
SUP 4: Y77.15 Base of Bollinger band
EUR/JPY: Studies Fade. EUR/JPY also failed to gain support from the daily studies in the move higher that tested a 38.2% retracement of the March-June decline, at Y101.64. The market now pulls back amid weakening studies and the Tenkan line and the 5-DMA turn initial resistance at Y100.02/20 with the 1% MAE behind there at Y101.15. Bears are looking at the 21-DMA ahead of Fibonacci retracements of the June rally at Y98.60 and Y97.89
RES 4: Y102.77 Low 9 May
RES 3: Y102.11/12 High 22 May, 2% MAE
RES 2: Y101.85 Bollinger band
RES 1: Y101.63/64 High 21 June, 38.2% of Y111.42-Y95.59
LATEST PRICE: Y99.34
SUP 1: Y99.30 21-day moving average
SUP 2: Y98.60/74/85 50% of June rally, Low 26 June, Kijun line
SUP 3: Y98.11 2% Moving Average Envelope
SUP 4: Y97.89 61.8% retracement of June rally
EasyForexNews Research Team