{"id":19426,"date":"2016-12-30T11:46:47","date_gmt":"2016-12-30T06:16:47","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=19426"},"modified":"2025-11-14T19:12:01","modified_gmt":"2025-11-14T08:12:01","slug":"friday-30th-december-daily-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-30th-december-daily-technical-outlook-and-review\/","title":{"rendered":"Friday 30th December: Daily Technical Outlook and Review"},"content":{"rendered":"

\n\tEURUSD<\/strong>:<\/h4>\n

EUR\/USD rallied overnight after it broke above 1.05 resistance in the early Asian session and reached a high of 1.0653. However, this happened at a time when liquidity is the lowest, especially now ahead of New Year’s Eve. The rally was quickly retraced and EUR\/USD is now back at 1.0530.<\/p>\n

Overall, the outlook remains negative, but we might see further EUR strength should USD longs continue to cover their positions into year-end. The key area to watch to the topside is 1.0655\/70, while to the downside, support is now seen at 1.05 and 1.0450.<\/p>\n

\"eurusd-1\"<\/a><\/p>\n

\n\tGBPUSD<\/strong>:<\/h4>\n

GBP\/USD failed to benefit much the USD position covering. While it did rally in Asia, it only reached a high of 1.2308, close to where it started this trading week. Resistance proved to be tough there, and the pair fell back to 1.2280.<\/p>\n

Price action suggests that further losses are ahead and we are likely to see another test of 1.22 soon. As we noted before, sub-1.22, there is not much support until 1.2115.<\/p>\n

\"gbpusd-1\"<\/a><\/p>\n

\n\tUSDJPY<\/strong>:<\/h4>\n

In USD\/JPY, we mentioned the 116.10\/15 area several times this week, and overnight, it finally reached it. The level was respected and USD\/JPY rallied to a high of 116.90 later in the session.<\/p>\n

USD\/JPY now faces resistance at 117, but given the strong bounce off 116.10, further gains seem likely, with 118 the next major obstacle.<\/p>\n

\"usdjpy-1\"<\/a><\/p>\n

\n\tAUDUSD<\/strong>:<\/h4>\n

AUD\/USD rose from 0.7215 to 0.7246 in Asia. Overall, the outlook remains bearish and traders looking to establish short positions, should keep an eye on 0.7280 resistance for an opportunity.<\/p>\n

To the downside, 0.7150\/60 is now key support, but below that area, there is not much support until 0.70.<\/p>\n

\"audusd-1\"<\/a><\/p>\n

\n\tNZDUSD<\/strong>:<\/h4>\n

NZD\/USD reached 0.6978 in Asia, but there is a lack of momentum. 0.7040\/50 is an attractive resistance area to consider a short position, although it may require more time to reach it.<\/p>\n

\"nzdusd-1\"<\/a><\/p>\n

\n\tUSDCAD<\/strong>:<\/h4>\n

USD\/CAD is under pressure amid the rally in Oil prices. It almost touched 1.36 on Wednesday, but is now trading around 1.3480. Decent support is seen at 1.3450, but a break below would signal a deeper retracement, to at least 1.3360.<\/p>\n

However, the overall outlook remains bullish and buying dips the preferred strategy.<\/p>\n

\"usdcad-1\"<\/a><\/p>\n

\n\tXAUUSD<\/strong>:<\/h4>\n

In Gold, $1150 was not difficult to breach on the second test, and it extended gains to $1163 in Asia. Watch the $1165 level as we could see a reaction there. Stronger resistance is then seen at $1180, followed by $1200\/05.<\/p>\n

From the levels mentioned, $1200\/05 is the most attractive area to consider a short position, given that it was a significant support area prior to the breakout, and the fact that we have not seen a retest yet.<\/p>\n

\"gold\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

EURUSD: EUR\/USD rallied overnight after it broke above 1.05 resistance in […]<\/p>\n","protected":false},"author":1,"featured_media":80032,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,195],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/19426"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=19426"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/19426\/revisions"}],"predecessor-version":[{"id":80367,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/19426\/revisions\/80367"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/80032"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=19426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=19426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=19426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}