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Failed to take out 1.4950 resistance Friday after the weaker than expected NFP figures and broke below key 1.4750 support yesterday. The choppy price action continues as risk reduction was theme yesterday leading to reduction in USD shorts. Minor support now at 1.4570 (prior overhead resistance) followed by 1.4485 (rising trend line). Looking at the chart in a longer term view the absolute key rising support is now coming in at 1.4280, which must hold to keep alive the prospects for higher levels. Focus will not turn to tomorrow ECB interest rate announcement and press conference.
Support: 1.4570, 1.4520, 1.4485 (key rising sup), 1.4280 (key swing level)
Resistance: 1.4950 (key level), 1.4967 and 1.5000 (key level)
240 min â€“ Support at 1.4394 and falling resistance at 1.4900.
Failed to move above 1.9960 last week and fell back sharply Friday afternoon. Couldnâ€™t hold 1.9640 yesterday and fell to test key support at 1.9560, which should hold on the first test at least. Focus is on BoE decision on Thursday this week.
Support: 1.9560, 1.9428, 1.9337 (key Jan low), 1.9310
Resistance: 1.9960, 2.0000, 2.0170 (Key level)
120 min â€“ Former falling resistance now at 1.9560 as support.
Moving above 1.0900 yesterday indicated that last weekâ€™s break lower was indeed false one. To the upside key resistance remains 1.1060, so basically any rally towards that level looks like a solid shorting opportunity.
Support: 1.0850, 1.0730 (key low)
Resistance: 1.1000, 1.1060 (falling res), 1.1120, 1.1205(former support level), 1.1350(former support), 1.1456 and 1.1554 (key falling resistance from Jul 07 highs)
The key levels to watch today are; 107.92 resistance and 105.70 support. But watch stocks for further direction in USDJPY as any recovery in the stock market will see the USDJPY go higher and a break of 108.10 is bullish.
Support: 105.70 (key level), 104.95
Resistance: 107.92 (key level), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)
The levels to keep an eye on today are 157.50 and 154.95 support. As noted yesterday the breakout of the triangle was worth at least 100 pips and indeed that was the case. Note Also have former support line (now resistance) at 160.30 today.
Support: 154.95, 152.97 (long term rising trend line)
Resistance: 157.50, 158.20 (falling res), 159.25 (key level), 160.31 (former support line, now resistance)
Took out 0.9983 support and moved quickly lower and reaching 0.9872 before reversing higher last week. Key resistance is still former key support line at 1.0130, so basically bearish momentum intact below 1.0130 today. Also have minor resistance at 1.0000 (falling resistance line from Jan highs).
Support: 0.9830 (key level), 0.9703 (1 month low)
Resistance: 1.0000 (falling res), 1.0130 (former support line), 1.0380 (key level, overhead res), 1.0400(former key support.)
Bullish outlook above 0.7440 risings support today.
Support: 0.7440, 0.7400, 7350, 0.7302 (rising support)
Resistance: 0.7490, 0.7540 (break down level 16 Jan), 0.7612 (all time high)
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