Technical Summary for Majors
by Slobodan Drvenica
EURUSD
The latest push higher broke through 1.2712, today's high / trendline resistance, to extend gains to 1.2745. Further upside is seen towards 1.2755/65, though overbought hourlies warn of corrective pullback. 1.2660 underpins fresh rallies.
Res: 1.2779, 1.2806, 1.2840, 1.2850
Sup: 1.2745, 1.2733, 1.2710, 1.2695
GBPUSD
Surged through 1.8923, today's high, to dent 1.9000 barrier, with 1.9001 being reached so far, just under 1.9017, 11 week trendline resistance. Break there is required to open further gains towards 1.9025/40, possibly 1.9075 on a break. Extremely overbought hourly studies warn of correction before fresh rally. 1.8925/00 offers initial support.
Res: 1.9017, 1.9025, 1.9040, 1.9075
Sup: 1.8954, 1.8925, 1.8903, 1.8880
USDJPY
Rallied strongly this morning, following correction from 116.82, 22 Aug previous high, to 116.07, 23 Aug low. Breach of 116.82 resistance has triggered fresh gains above 117.00 to reach 117.24 high so far. Further gains are seen towards 117.37/85 25/19 July highs. Overbought hourlies warn of correction, though 116.35/15 expected to contain dips and maintain bulls.
Res: 117.37, 117.55, 117.85, 118.00
Sup: 116.82, 116.65, 116.35, 116.15
USDCHF
Continues to trend higher from 1.2181, 21 Aug low, with yesterday's renewed strength from 1.2306 higher low, extending gains to 1.2404 high so far. Corrective pullback is underway, with 1.2350/20 area offering underpinning fresh advance. Break above 1.2404 opens 1.2443, 15 Aug high, next.
Res: 1.2404, 1.2425, 1.2443, 1.2465
Sup: 1.2350, 1.2338, 1.2320, 1.2290
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