A brief dip below the support at 1.5320 yesterday, but bounced higher once again overnight, so that was a false break lower and still plenty demand to buy Euros on dips. Looks technically bullish above the rising trend line at 1.5220 and still looks tempting to go for a test of that 1.55 level overhead resistance and reported option barriers at this level as well.
Support: 1.5335 (short term rising sup), 1.5220 (rising sup), 1.5104 (former overhead res), 1.4967(former high), 1.4915(rising sup), 1.4750 (break out level), 1.4890 (rising support),
Resistance: 1.5500 (overhead resistance)
240 min â€“ Rising support at 1.5220.
Have resistance at 2.0230 level, which have held up 3 days in a row now, so another test should be a break or fail scenario. Keep a close eye on this level and if this level breaks then it could accelerate higher towards the overhead resistance at 2.0415. To the downside the closest support points are; the break out level of 1.9960 and the rising support is coming in at 1.9905 today.
Support: 1.9960(for key res), 1.9905 (rising sup), 1.9736 (break out level), 1.9650, 1.9500 (break out level), 1.9360, 1.9337 (key Jan low), 1.9310
Resistance: 2.0230 (Key level), 2.0415 (overhead res)
120 min â€“ Rising support coming in at 1.9905.
Donâ€™t really have much support levels to go by as it is trading in unchartered territory, have underlying support from June 07 low coming in at 1.0050, which should offer some support if it is tested. Have falling resistance at 1.0505 today, with the key point being former all time low at 1.0728 now.
Support: 1.0133(Fridayâ€™s low), 1.0050 (underlying support going back to June 07)
Resistance: 1.0392 (former sup line), 1.0505 (falling res), 1.0728 (prior low), 1.0936 (break down level), 1.0950 (falling res), 1.1067 (overhead res), 1.1120, 1.1205(former support level), 1.1350(former support), and 1.1370 (key falling resistance from Jun 07 highs)
Big bounce yesterday as stocks moved higher and it could challenge 103.98 overhead resistance near term, but then it needs to stay above 102.80 support, otherwise there is risk for another test lower. Stock markets have been quite choppy over the last few sessions and this translates to more volatility in JPY as well, so keep an eye on development in stocks for clues on JPY going forward.
Support: 101.67 (2005 low), 100 (key level)
Resistance: 103.95 (falling res), 104.95 (former 2008 low), 105.70 (former key support), 107.04 (former rising support), 107.25 (falling res), 108.63 (overhead res), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)
Have rising support coming in at 156.93 today (trend line support from 23th of Jan low). Next support level is 155.53 followed by 154.04 (key support). Have overhead resistance coming in at 159.00 and falling resistance at 160.37 today (from Dec 08 high).
Support: 156.93 (rising support), 155.53, 154.04, 153.95 (long term rising trend line)
Resistance: 159.00 (overhead res), 160.37 (falling res), 161.60 (minor res), 162.17 (key res)
Basically trading inside a rising channel with 0.9995 resistance on top and underlying support at 0.9757. As noted a few days ago the CAD should see some support from the strong unemployment report out of Canada on Friday and after testing overhead resistance toward 0.9990 it moved considerably lower yesterday and key support now is the rising support at 0.9777.
Support: 0.9777 (rising support from Nov07 low), 0.9710 (28/2 low), 0.9639 (underlying support)
Resistance: 0.9995 (former support line), 1.0124 (short term falling res), 1.0222(overhead res), 1.0280 (falling res from Aug 07 high), 1.0380 (key level, overhead res), 1.0400(former key support.)
Touched the 0.7597 support level before moving to the upside once again. Technically still bullish above 0.7595 key level now. Have interim rising support coming in at 0.7620 today .
Support: 0.7620 (interim rising sup), 0.7612 (former high), 0.7597(key level), 0.7515 (former res), 0.7487 (rising support), 0.7400, 0.7387 (rising sup), 0.7284 (rising support)
Resistance: 0.7691 (6 Mar high)
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