EUR/USD: Closes Below 200-DMA For 7th Consecutive Session. Seventh consecutive close below the 200-day moving average at $1.2890, leaves downside as the least course of resistance. Overall, the medium-term outlook remains bearish whilst below the 2-month channel top and the 21-day moving average, which is last valued at $1.2918/27. Focus is on 1-month support line at $1.2696.
RES 4: $1.3047 High Mar 25
RES 3: $1.2965/67/78 Low Mar 6, Low Mar 1, 23.6% of $1.3711 to $1.2751
RES 2: $1.2918/27 Resistance line from Feb 1, 21-day moving average
RES 1: $1.2890 200-DMA, High Mar 26
Latest price: $1.2807
SUP 1: $1.2796 61.8% of $1.2771 to $1.2878
SUP 2: $1.2751/71 Recovery low Mar 27, Low Apr 1
SUP 3: $1.2696 Support line from 1 Mar
SUP 4: $1.2662/80 Nov 13 reversal low, 61.8% of $1.2043-1.3711
GBP/USD: Failure Ahead Of June 2012 Low Puts Focus On Downside. Failure to break above June 1, 2012 low at $1.5269 leaves focus on the downside, with near-term support at $1.5027/50, where latter is the 50.0% of rally from $1.4832-$1.5269 move. The daily stochastic study is bearishly crossed with fast 10-day momentum threatening a break below the zero line
RES 4: $1.5321/28/33 High Feb 22, Low 22/23 Sept 2011
RES 3: $1.5298 Daily Bollinger band top
RES 2: $1.5269 High Mar 25, June 1 2012 low
RES 1: $1.5163 5-day moving average
Latest price: $1.5088
SUP 1: $1.5027/50 Low Mar 20, 50.0% of $1.4832-$1.5269
SUP 2: $1.4982 High Mar 13
SUP 3: $1.4889 Daily Bollinger Band base
SUP 4: $1.4832 Recovery low Mar 12
USD/JPY: Engulfed In Falling 15-Day Channel Range. Engulfed in a falling 15-day channel range, where parameters come in at Y92.42/Y95.25, the channel is falling 9 pips/session and focus is on the Ichimoku cloud top, which comes in at Y92.12. Initial resistance is at Y93.85/93, where former is the Tenakan line & latter the Kijun line of the Ichimoku cloud, which is poised for a dead-cross
RES 4: Y95.25 Channel top from Mar 14
RES 3: Y94.86/91 21-day moving average, High Mar 21
RES 2: Y94.38 High 1 Apr
RES 1: Y93.85/93 Tenkan line and Kijun line of Ichimoku
Latest price: Y93.55
SUP 1: Y92.42/44 Channel base from Mar 14 high, Low 1 Mar
SUP 2: Y92.09/12 23.6% of Y77.13-96.71, Ichimoku cloud top
SUP 3: Y91.41 High Jan 30
SUP 4: Y90.88 Recovery low Feb 25
EUR/JPY: Gravitating To Ichimoku Cloud Base At Y119.03. Cross is gravitating towards the Ichomoku cloud base at Y119.03 and Feb low at Y118.73. Break below here favours slide to extend to 2-month channel base at Y116.85. Ahead of this, focus is on the 100-day moving average at Y117.16. 5-day moving average provides initial resistance at Y120.14.
RES 4: Y122.64/86 21 & 55-day moving average
RES 3: Y122.35/60 Daily Ichimoku cloud top, Kijun line of Ichimoku cloud
RES 2: Y121.50/87 Tenkan line, High Mar 27
RES 1: Y120.14 5-day moving average
Latest price: Y119.72
SUP 1: Y119.03 Ichimoku cloud base
SUP 2: Y118.73 Low Feb 25
SUP 3: Y117.33/59 100-day moving average, Low Jan 24
SUP 4: Y116.85 Projected channel base from Feb 6 high
EasyForexNews Research Team