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Technical Analysis (2016-06-24)

EUR/USD
Previous Day Range High: 1.1421 Low: 1.1317 Close: 1.1394
Technical Chart Resistance
R-2:1.1390
R-1:1.1342

Support
S-1:1.1241
S-2:1.1189
Forecast
High:1.1342
Low:1.1241
Intraday bias in EUR/USD remains neutral at this point. On the downside, break of 1.1097 support will confirm resumption of fall from 1.1615. More importantly, that will indicate completion of rebound from 1.0517. And, in that case, retest of 1.0461/517 resistance zone would be seen. Nonetheless, above 1.1414 will turn focus back to 1.1615 instead.
USD/JPY
Previous Day Range High: 106.08 Low: 104.02 Close: 106.02
Technical Chart Resistance
R-2:105.06
R-1:104.74

Support
S-1:104.20
S-2:103.99
Forecast
High:104.74
Low:104.20
USD/JPY is staying in consolidation above 103.52 temporary low and intraday bias remains neutral first. With 106.38 resistance intact, outlook stays bearish and further fall is expected. Break of 103.52 will extend the larger down trend from 125.85 to next long term fibonacci level at 100.70.
GBP/USD
Previous Day Range High: 1.4974 Low: 1.4731 Close: 1.4903
Technical Chart Resistance
R-2:1.4834
R-1:1.4761

Support
S-1:1.4628
S-2:1.4568
Forecast
High:1.4761
Low:1.4628

With 1.4542 minor support intact, further rise would be seen in GBP/USD as rise from 1.3835 extends. Such rise is still viewed as a corrective move. Thus, we're expect strong resistance from 1.5117 fibonacci level to limit upside and bring reversal. Meanwhile, below 1.4431 minor support will turn bias neutral first.
USD/CHF
Previous Day Range High: 0.9602 Low: 0.9522 Close: 0.9580
Technical Chart Resistance
R-2:0.9667
R-1:0.9630
Support
S-1:0.9553
S-2:0.9513
Forecast
High:0.9630
Low:0.9553

The sideway consolidation from 0.9571 is still in progress and intraday bias stays neutral. Near term outlook remains bearish with 0.9713 minor resistance intact. Below 0.9571 will target 0.9443 low first. Decisive break there will extend the choppy fall from 1.0327 and target 0.9256 medium term support next. However, sustained break of 0.9713 will indicate that fall from 0.9955 is merely a pull back and has completed. In such case, stronger rise should be seen to retest 0.9955 first.
AUD/USD
Previous Day Range High: 0.7612 Low: 0.7510 Close: 0.7605
Technical Chart Resistance
R-2:0.7575
R-1:0.7538
Support
S-1:0.7454
S-2:0.7406
Forecast
High:0.7538
Low:0.7454

Intraday bias in AUD/USD remains neutral first. Outlook is unchanged that correction from 0.7144 might extend higher. But we'd expect strong resistance from 61.8% retracement of 0.7833 to 0.7144 at 0.7570 to limit upside. Below 0.7284 will turn bias to the downside for 0.7144 support first. Break will resume the larger down trend.
USD/CAD
Previous Day Range High: 1.2819 Low: 1.2679 Close: 1.2779
Technical Chart Resistance
R-2:1.2925
R-1:1.2886
Support
S-1:1.2775
S-2:1.2703
Forecast
High:1.2886
Low:1.2775

Intraday bias in USD/CAD remains neutral at this point. The consolidation pattern from 1.2460 low is still in progress and might extend. Above 1.3187 will target 38.2% retracement of 1.4689 to 1.2460 at 1.3311. We'll be cautious on strong resistance from there to limit upside. Meanwhile, below 1.2654 will turn focus back to 1.2460 low.