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Technical Analysis (2017-06-28)

EUR/USD
Previous Day Range High: 1.1349 Low: 1.1177 Close: 1.1344
Technical Chart Resistance
R-2:1.1462
R-1:1.1403





Support
S-1:1.1231
S-2:1.1118



Forecast
High:1.1403
Low:1.1231





EUR/USD rises sharply today with focus on 1.1298 key resistance. Decisive break there will carry larger bullish implication and extend the up trend from 1.0339 to 1.1615 resistance next. On the downside, break of 1.1109 support will indicate short term topping and rejection from 1.1298. In such case, intraday bias will be turned to the downside for 1.0838 support.
USD/JPY
Previous Day Range High: 112.47 Low: 111.44 Close: 112.33
Technical Chart Resistance
R-2:113.11
R-1:112.72






Support
S-1:111.69
S-2:111.05



Forecast
High:112.72
Low:111.69





Intraday bias in USD/JPY remains on the upside as rise from 108.81 continues. Further rally would be seen to channel resistance (now at 112.99). Sustained break there will suggest that whole pull back from 118.65 has completed at 108.12 already. In such case, further rise should be seen to 114.36 resistance for confirmation. On the downside, however, break of 110.94 support will argue that rebound from 108.81 has completed and turn bias back to the downside.
GBP/USD
Previous Day Range High: 1.2861 Low: 1.2714 Close: 1.2828
Technical Chart Resistance
R-2:1.2948
R-1:1.2888





Support
S-1:1.2741
S-2:1.2654




Forecast
High:1.2888
Low:1.2741





GBP/USD recovers further today but stays in range of 1.2588/2813. Intraday bias remains neutral for the moment. With 1.2813 resistance intact, deeper decline is expected. Sustained break of 1.2614 resistance turned support will confirm our bearish view that consolidation pattern from 1.1946 has completed. In that case, deeper fall should be seen back to retest 1.1946 low. However, break of 1.2813 resistance will dampen our view and turn bias back to the upside for 1.3047 and above.
USD/CHF
Previous Day Range High: 0.9733 Low: 0.9588 Close: 0.9598
Technical Chart Resistance
R-2:0.9785
R-1:0.9691





Support
S-1:0.9546
S-2:0.9495




Forecast
High:0.9691
Low:0.9546





USD/CHF drops sharply today with focus on 0.9613 support. Decisive break there will extend the decline from 1.0342 and target 0.9548 support and below. We'd start to look for bottoming signal again as it approaches 0.9443 key support level. In any case, outlook will remain bearish as long as 0.9807 resistance holds. Firm break of 0.9807, however, will indicate near term reversal and turn outlook bullish for 1.0099 resistance next.
AUD/USD
Previous Day Range High: 0.7624 Low: 0.7574 Close: 0.7584
Technical Chart Resistance
R-2:0.7644
R-1:0.7614





Support
S-1:0.7564
S-2:0.7544




Forecast
High:0.7614
Low:0.7564





Intraday bias in AUD/USD remains neutral at this point. With 0.7523 intact, further rise is expected. Break of 0.7635 will extend the rise from 0.7328 to 0.7748 resistance and above. At this point, there is no clear sign of range breakout yet. Hence, we'd be cautious on topping again as it approaches medium term fibonacci level at 0.7849. Meanwhile, break of 0.7523 will argue that rebound from 0.7328 is possibly completed. In that case, intraday bias will be turned back to the downside for 0.7370 support.
USD/CAD
Previous Day Range High: 1.3261 Low: 1.3144 Close: 1.3172
Technical Chart Resistance
R-2:1.3309
R-1:1.3241





Support
S-1:1.3124
S-2:1.3075



Forecast
High:1.3241
Low:1.3124





USD/CAD's consolidation from 1.3614 is still unfolding and intraday bias stays neutral. In case of another recovery, upside should be limited by 1.3387 support turned resistance to bring fall resumption. As noted before, corrective rise from 1.2460 has completed at 1.3793 already. Below 1.3164 will extend the decline from 1.3793 to 1.2968 cluster support, 61.8% retracement of 1.2460 to 1.3793 at 1.2969. However, firm break of 1.3387 will dampen our view and turn focus back to 1.3537 resistance next.