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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: capped by a negative trend line.


Pivot:1.1010


Our preference:short positions below 1.1010 with targets at 1.0990 & 1.0980 in extension.


Alternative scenario:above 1.1010 look for further upside with 1.1020 & 1.1035 as targets.


Comment:as long as 1.1010 is resistance, look for choppy price action with a bearish bias.











USD/JPY Intraday: key resistance at 108.85.


Pivot:108.85


Our preference:short positions below 108.85 with targets at 108.55 & 108.35 in extension.


Alternative scenario:above 108.85 look for further upside with 109.00 & 109.15 as targets.


Comment:as long as the resistance at 108.85 is not surpassed, the risk of the break below 108.55 remains high.












GBP/USD Intraday: capped by a negative trend line.


Pivot:1.2855


Our preference:short positions below 1.2855 with targets at 1.2800 & 1.2785 in extension.


Alternative scenario:above 1.2855 look for further upside with 1.2875 & 1.2895 as targets.


Comment:as long as 1.2855 is resistance, look for choppy price action with a bearish bias.












EUR/GBP intraday: technical rebound towards 0.8599 before a new drop


Our pivot point is at 0.8599.


Our preference:technical rebound towards 0.8599 before a new drop.


Alternative scenario:the upside breakout of 0.8599, would call for 0.8631 and 0.8651.


Comment:the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair stands above its 20 MA (0.8567) but below its 50 MA (0.8570).














USD/ZAR intraday: as long as 14.8250 is support look for 15.0590


Our pivot point is at 14.8250.


Our preference:as long as 14.8250 is support look for 15.0590.


Alternative scenario:the downside breakout of 14.8250 would call for 14.7360 and 14.6830.


Comment:the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is above its 20 and 50 MAs (respectively at 14.8735 and 14.8381).