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FX Technical Analysis (Medium-term) - 27 June 2017

FX Technical Analysis (Medium-term) - 27 June 2017

EURUSD Daily Chart (6-month)

EUR/USD is approaching resistance area around 1.1365-1.1462 (August 2016 high / downtrend line) but the MACD is now showing initial signs of reversing from around the zero line and we may see bounce upto the top of the resistance range. Above 1.1462 the next target area is 1.1611 and 1.1705 (2015 / 2016 highs). Below 1.1110 is likely to avert upside.

GBPUSD Daily Chart (6-month)

GBP/USD MACD on a daily chart is trending in the negative territory and hence we are still looking to sell rallies. 1.2815 is initial resistance and if this gives way we may see a run up to 1.2917-1.2989 area where key resistance lies. We target 1.2501 for now.

USDJPY Daily Chart (6-month)

 

USDJPY is in a gradually narrowing range within triangle pattern there is decent support at 110.79 but a dip beneath can ensue without ending chances of recovery to 113.58 as the MACD is also showing that sentiments are bottoming. Below 109.64 opens 108.15

AUDUSD Daily Chart (6-month)

AUD/USD momentum indicators are turning bullish with MACD trending in the positive territory. We target .7679, possibly .7717 over the coming days. Below .7520 to delay upside but while above .7420 chances are of a medium-term recovery. Below .7423 will put in doubt a further upside.

EURGBP Daily Chart (6-month)

EURGBP looks fairly bullish and hence we see a further upside to .9025 on a break of .8864. Failure to break .8864 can lead to a short-term dip but while above .8720 (area of strong support) chances are for the current rally to extend. Below .8720 to open a deeper dip to .8602.

SUMMARY OF KEY FX RATES

as at 27-Jun-17

EURUSD

GBPUSD

USDJPY

USDCHF

USDCAD

AUDUSD

NZDUSD

Key Resist 3

1.1462

1.2990

114.36

0.9915

1.3550

0.7720

0.7485

Key Resist 2

1.1365

1.2917

113.58

0.9864

1.3460

0.7679

0.7403

Key Resist 1

1.1298

1.2815

112.17

0.9860

1.3347

0.7634

0.7375

Now

1.1250

1.2758

111.62

0.9663

1.3215

0.7620

0.7305

Key Support 1

1.1110

1.2640

110.79

0.9615

1.3165

0.7520

0.7245

Key Support 2

1.1020

1.2501

110.13

0.9552

1.3055

0.7420

0.7187

Key Support 3

1.0950

1.2367

109.64

0.9446

1.3012

0.7370

0.7089

Multi-week view

Up

Down

Flat

Down

Down

Up

Flat

Multi-week targets

1.1365 & 1.1465

1.2500 & 1.2365

113.58

.9864

1.3055 & 1.3012

.7680 & .7717

.7187

view change

1.1110

1.2990

109.64

0.9552

1.3347

.7420

 .7403

 

as at 27-Jun-17

EURGBP

EURJPY

EURCHF

EURNOK

EURSEK

NOKSEK

AUDNZD

Key Resist 3

0.9025

128.21

1.0990

9.7445

9.9225

1.0710

1.0820

Key Resist 2

0.8900

127.49

1.0950

9.6425

9.8440

1.0570

1.0695

Key Resist 1

0.8865

126.45

1.0910

9.5770

9.8060

1.0475

1.0620

now

0.8832

125.75

1.0881

9.5287

9.7833

1.0295

1.0416

Key Support 1

0.8720

123.57

1.0820

9.4049

9.7020

1.0195

1.0395

Key Support 2

0.8656

123.57

1.0790

9.3216

9.6685

1.0145

1.0325

Key Support 3

0.8602

122.41

1.0761

9.1712

9.6185

1.0045

1.0240

Multi-week view

Up

Up

Down

 Up

Up

Flat

Down

Multi-week tgts

.8900 & .9025

126.45 & 127.49

1.0950

9.6425 & 9.7450

9.8440 & 9.9225

             -

1.0695

view change

.8602

122.41

1.0820

9.4049

9.7020

1.0195 / 0475

1.0327

 

 

This article is an extended commentary piece from the FXNavigator service. The FXNavigator service provides intraday analysis of 42 currency markets with technical and economic research being updated multiple times per day. The service also includes fully interactive real-time FX charting utilizing TraderMades exclusive database of more than 40 years of data. Contact us at +44 20 8313 0992 or email for further information.

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