FOREX TECHNICAL ANALYSIS

Daily Forex technical analysis from our analysts.

EURUSD on Monday ↗️ rose 0.09% to 1.2119. Price is above 100-EMA.

Updated daily outlook for EURUSD is neutral as price continue to consolidate.

Looking ahead today, with the uncertainty in the price action yesterday we prefer to look at the week high of 1.2193 as important resistance level and the week low of 1.2091 as important support level. EURUSD need to break on either side to indicate any strong bias. A break above 1.2130 would suggest bullish bias after last few days positive movement. In terms of momentum, Stochastic Oscillator is currently showing up in the oversold zone which we may expect a rebound.

For the week, EURUSD is looking mixed as price remain in consolidation above 1.2092.

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GBPUSD on Monday ↗️ rose 0.01% to 1.4107. Price is above 100-EMA.

Updated daily outlook for GBPUSD is neutral as price continue to consolidate.

Looking ahead today, with the uncertainty in the price action yesterday we prefer to look at the week high of 1.4185 as important resistance level and low of 1.4068 as immediate support level. GBPUSD need to break on either side to indicate any strong bias. A break above 1.4124 would suggest bullish bias after last few days positive movement. Stochastic Oscillator is in the neutral zone which the current momentum may continue to follow.

For the week, GBPUSD is looking mixed as price remain in consolidation above 1.4068.

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USDJPY on Monday ↗️ rose 0.39% to 110.06. Price is above 100-EMA.

Updated daily outlook for USDJPY is bullish as the pair ended higher after Monday trading session.

Looking ahead today, immediate upside resistance level at 110.10. On the downside, we are looking at daily low of 109.58 as an important support for the current bullish momentum. Break below this level could cast uncertainty to the price direction. As the Stochastic Oscillator is currently in the overbought zone, traders may want to be more cautious when buying.

For the week, USDJPY is looking bullish as the pair continued to rise on the higher timeframe.

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USDCAD on Monday dropped ↘️ -0.09% to 1.2142. Price is below 100-EMA.

Updated daily outlook for USDCAD is neutral as price continue to consolidate.

Looking ahead today, with the uncertainty in the price action yesterday we prefer to look at the week high of 1.2177 as important resistance level and the week low of 1.2076 as important support level. USDCAD need to break on either side to indicate any strong bias. A close below 1.2124 would indicate short-term selling pressure. Stochastic Oscillator is in the neutral zone which the current momentum may continue to follow.

For the week, USDCAD is looking mixed as price remain in consolidation above 1.2124.

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AUDUSD on Monday ↗️ rose 0.05% to 0.7710. Price is below 100-EMA.

Updated daily outlook for AUDUSD is neutral as price continue to consolidate.

Looking ahead today, with the uncertainty in the price action yesterday we prefer to look at the week high of 0.7776 as important resistance level and the week low of 0.7685 as important support level. AUDUSD need to break on either side to indicate any strong bias. A break above 0.7726 would suggest bullish bias after last few days positive movement. Stochastic Oscillator is in the neutral zone which the current momentum may continue to follow.

For the week, AUDUSD is looking mixed as price remain in consolidation above 0.7690.

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NZDUSD on Monday ↗️ rose 0.25% to 0.7143. Price is below 100-EMA.

Updated daily outlook for NZDUSD is neutral as price continue to consolidate.

Looking ahead today, with the uncertainty in the price action yesterday we prefer to look at the week high of 0.7210 as important resistance level and the week low of 0.7112 as important support level. NZDUSD need to break on either side to indicate any strong bias. A break above 0.7153 would suggest bullish bias after last few days positive movement. Stochastic Oscillator is in the neutral zone which the current momentum may continue to follow.

For the week, NZDUSD is looking mixed as price remain in consolidation above 0.7124.

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USDCHF on Monday ↗️ rose 0.17% to 0.8993. Price is below 100-EMA.

Updated daily outlook for USDCHF is neutral as price continue to consolidate.

Looking ahead today, with the uncertainty in the price action yesterday we prefer to look at last high of 0.9002 as immediate resistance level and the week low of 0.8927 as important support level. USDCHF need to break on either side to indicate any strong bias. A break above 0.9002 would suggest bullish bias after last few days positive movement. Stochastic Oscillator is in the neutral zone which the current momentum may continue to follow.

For the week, USDCHF is looking mixed as price remain in consolidation above 0.8974.

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EURGBP on Monday ↗️ rose 0.10% to 0.8590. Price is below 100-EMA.

Updated daily outlook for EURGBP is neutral as price continue to consolidate.

Looking ahead today, with the uncertainty in the price action yesterday we prefer to look at the week high of 0.8606 as important resistance level and the week low of 0.8566 as important support level. EURGBP need to break on either side to indicate any strong bias. A break above 0.8606 would suggest bullish bias after last few days positive movement. Stochastic Oscillator is in the neutral zone which the current momentum may continue to follow.

For the week, EURGBP is looking mixed as price remain in consolidation above 0.8570.

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