Daily Technical Analysis

EURUSD Outlook

The EURUSD was corrected higher yesterday. The pair topped at 1.2765 and closed at 1.2720. Although in longer term view, technically the bearish scenario is still intact, we might see another upside pressures today. Only a consistent move above 1.2850 could be a violation to the current bearish scenario. Immediate resistance is seen at 1.2765 (yesterday's high). Initial support at 1.2682 followed by 1.2580. CCI in neutral area both on hourly and 4h chart. Be very patient at this phase .

EURUSD Daily Supports and Resistances:

S1= 1.2600
S2= 1.2480
S3= 1.2398
R1= 1.2802
R2= 1.2884
R3= 1.3004

GBPUSD Outlook

The GBPUSD made indecisive movement yesterday. The pair attempted to push lower, bottomed at 1.4777 but further bearish momentum was rejected as the pair whipsawed to the upside, topped at 1.5069 and closed at 1.4917. Although the bearish scenario should still intact, we might have another bullish attempt today. Immediate resistance is seen at 1.5069 (yesterday's high). Initial support at 1.4850 followed by 1.4750. CCI in neutral area both on 4h and daily chart.

GBPUSD Daily Supports and Resistances:

S1= 1.4773
S2= 1.4629
S3= 1.4481
R1= 1.5065
R2= 1.5213
R3= 1.5357

USDJPY Outlook

The USDJPY didn't make significant movement yesterday. We have a descending triangle formation seen on both 4h and daily chart suggesting that the pair is in consolidation phase with downside bias. The key support level at this phase is 92.60 area. A break to the downside from that level could trigger further bearish momentum. However CCI already in oversold area and heading up on daily chart so watch out for some upside pressures testing resistance level at 93.70 then 94.50.

USDJPY Daily Supports and Resistances:

S1= 92.59
S2= 92.03
S3= 91.42
R1= 93.76
R2= 94.37
R3= 94.93

USDCHF Outlook

The USDCHF also didn't make significant movement yesterday. The pair seemed to move in ranging area of 1.2090 and 1.1990. A breakout from the ranging area would give us a clearer direction. Hourly CCI seem to reject the 100 line and heading down suggesting a potential downside pressures.

USDCHF Daily Supports and Resistances:

S1= 1.2005
S2= 1.1950
S3= 1.1906
R1= 1.2104
R2= 1.2148
R3= 1.2203

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