Like other USD pairs, USD/CAD too fell on Thursday and gave a daily closing at 1.0647, thus retracing all of the gains from Wednesday. However, the pair is still under a strong bullish trend. Major Support & Resistance Levels At the moment in Asian session, spot is around 1.0662 and the [Read more...]
AUD/USD on Wednesday finally gave a daily closing below 0.9266 after too much reluctance, thus breaking a key 76.4% fib level. The pair has now come under relatively stronger bearish trend which is in-line with Head & Shoulder (H&S) Price Pattern on daily chart. Major Support & [Read more...]
USD/JPY yesterday pulled back sharply after finding support at 102.00 (trendline support). At the moment in Asian session, spot is around 102.56. Major Support & Resistance Levels The pair is likely to find an immediate support at 102.11 (trendline support), ahead of 102.05 (hourly 200 MA) [Read more...]
Friday daily pin bar worked for USD/CHF and the pair yesterday gave a positive closing at 0.9087 with a daily high of 0.9108 amid a couple of positive economic reports about the US economy and Fed taper outlook. Major Support & Resistance Levels The pair has been trading in a 200 pips range [Read more...]
GBP/USD surged more than 60 pips in Asian session on Monday and then found a strong resistance around 1.6430-40 region which is 38.2% fib level of last major move (2.1160 to 1.4539) as well as monthly trendline resistance. Resistance & Support Levels At the moment spot is around 1.6413 [Read more...]
EUR/GBP is considered one of the most predictable currency pairs in Forex market. Yesterday the pair once again gave a daily closing below an important channel resistance as shown in the following chart. Technical Levels At the moment in Asian session, spot is around 0.8322 where it is likely [Read more...]
AUD/USD on Wednesday bounced off sharply from 76.4% fib level around 0.9063 (the lowest level since September 4) and is being traded at 0.9115 in Asian Session today. Major Support & Resistance Levels 0.9125-0.9135 region is likely to act as strong barrier for Aussie dollar as it is [Read more...]
GBP/USD yesterday closed above an important channel resistance at 1.6180 after US Consumer Confidence report showed worse than expected situation. The Conference Board said its index of US consumer confidence declined to 70.4 in November from 72.4 in October. Analysts had expected the index to [Read more...]
NZD/USD has been continuing its bullish trend since Friday after finding a major support around 0.8125-0.8130 region which is 50% fibo level of last major move from 0.7719 to 0.8524. The pair has already surged more than 100 pips since Friday when this bullish trend was triggered. Price action, [Read more...]
After finding support at 1.3400 last week, EUR/USD pulled back sharply to close the weekend at 1.3550. In order to print fresh highs above 1.3831, the shared currency needs to give weekly closing above 1.3620. Here are some key support & resistance levels for the pair this week. First [Read more...]