Technical Analysis
Asian Currencies Technicals
AUD/USD: the correction lower following the failures in the $0.9315-43 resistance region has paused just ahead of the 21 day lower Bollinger band and the July 15 low.
AUDUSD – bear flag approaching critical .9030/00 support levels
The bear flag we discussed Thursday is unfolding accordingly after respecting .93 resistance.
The yearly AUD/USD low is exposed again
EUR/USD: Action was slow yesterday while tucking in ahead of U.S. data flow later in the week.
Daily Market Technicals
EUR/USD – Focus remains on the upside after break above $1.3261, with attention on yearly resistance line, which is today valued at $1.3330.
Asian Currencies Technicals
AUD/USD has again failed ahead of the $0.9315-43 resistance region with the immediate focus firmly on the $0.9128 July 25 low.
Technician
EUR/USD Momentum is now clearly pro-growth and indicators are not overbought, so testing of 1.327 level should be successful and
USDJPY – 97.65 target hit. Wave-iv range ahead of new lows
The bear flag target of 97.65 has been achieve but this is not our terminal downside target for this Wave-C decline.
EURUSD – holds 1.3255, bull flag suggest break above 1.33
Prices successfully held the 1.3250 (old support) as expected and now with the 76.4% retracement behind, a rally to and beyond the old 1.3414 high is more likely.
USD/ZAR Technical Analysis
(9,8070) The DOLL/ZAR confirmed on Friday a session of consolidation forming a new inside day with 9,8400 – 9,6720 the levels to follow in the coming hours.
GBP/CHF Technical Analysis
(1,4288) The GBP/CHF confirmed another weak closing on Friday still below the low of the previous session suggesting further weakness.
AUD/USD Technical Analysis
(0,9255) The AUSSIE confirmed a positive closing while however still remaining interior the negative outside day with 0,9340 – 0,9120 still the levels to follow in the coming hours.
USD/CAD Technical Analysis
(1,0273) The USD/CAD confirmed a session of consolidation forming a new inside day with 1,0330 – 1,0245 the levels to follow in the coming hours.