Daily Fx Technical Analysis




Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.


EUR/USD Intraday: key resistance at 1.1065.


Pivot:1.1065


Our preference:short positions below 1.1065 with targets at 1.1035 & 1.1020 in extension.


Alternative scenario:above 1.1065 look for further upside with 1.1080 & 1.1090 as targets.


Comment:as long as 1.1065 is resistance, look for choppy price action with a bearish bias.





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USD/JPY Intraday: intraday support around 109.10.


Pivot:109.10


Our preference:long positions above 109.10 with targets at 109.35 & 109.50 in extension.


Alternative scenario:below 109.10 look for further downside with 108.90 & 108.75 as targets.


Comment:a support base at 109.10 has formed and has allowed for a temporary stabilisation.






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GBP/USD Intraday: the downside prevails.


Pivot:1.2835 Our preference:short positions below 1.2835 with targets at 1.2790 & 1.2775 in extension.


Alternative scenario:above 1.2835 look for further upside with 1.2855 & 1.2875 as targets.


Comment:the RSI calls for a new downleg.







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EUR/GBP intraday: as long as 0.8596 is support look for 0.8682


Our pivot point is at 0.8596.


Our preference:as long as 0.8596 is support look for 0.8682.


Alternative scenario:the downside breakout of 0.8596 would call for 0.8564 and 0.8544.


Comment:the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 MA (0.8622) but above its 50 MA (0.8620).






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USD/ZAR intraday: the upside prevails as long as 14.6720 is support


Our pivot point stands at 14.6720. Our preference:the upside prevails as long as 14.6720 is support.


Alternative scenario:below 14.6720, expect 14.5840 and 14.5310.



Comment:the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 14.7355 and 14.7481).





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