Technical Analysis

South Africa: Daily FX Technical Strategy – USD support held

Although USD/ZAR fell to 8.58 on Friday, the eventual snapback and close above 8.70 has maintained the larger USD-bullish tone. We continue to target 9.20 (50% retracement) later this quarter given the bearish sentiment towards the ZAR.

Technical Analysis

Hard to find anything really exciting…. AUDUSD having completed a minor bounce and stands ready to try lower, EURUSD stuck in a narrowing range, USDJPY bear triangle suggests selling to appear ahead of 78.68,

Global Technical Watch – Profit taking

Following an unfavourable response to nonfarm payrolls over a week ago, the S&P 500 posted its strongest bearish week since the uptrend began in Q2. This is undermining the recent bullish trends in gold and Brent, as profit taking is taking centre stage.

FX Market Technical Research

EUR/USD: Euro-Dollar Fails To Close Above 21-DMA. Daily tech studies remain muted while Euro-dollar fails to close above the 21-day moving average and remains below the resistance line from the Sept high.

Asian Currencies Technicals

AUD/USD: Remains Heavy To Start The Week. An inside day to end last week for the AUD/USD with immediate focus remaining on tests of $1.0095-1.0105 region.

FX Daily Crosses

Today’s highlights: – EUR/GBP: Support found at .8022 signals the correction was shortlived, and we expect an advance through .8103/15 to target .8157 initially.

FX Daily Majors

Today’s highlights: – EURUSD: Bullish outside reversal day off the 200-day average signals a recovery is underway for 1.3074 to 1.3172/8 initially.

Technical Analysis

EUR/USD Extended reaction higher… USD/JPY Indecisive… GBP/USD Congestion, then lower… EUR/SEK Break!… NOK/SEK Soon time for a breather… EUR/NOK Looking for support.

FX Market Technical Research

EUR/USD: Recovery Capped By The 21-Day Moving Average. EUR/USD recovery failed to make headway against the 21-day moving average, now initial resistance, with support now coming from the 23.6% Fibonacci level at $1.2906 followed by strong support seen at the 200-DMA at $1.2825.