On the H4 timeframe, prices are facing bullish pressure from our support at 1.21336, in line with the horizontal swing low support and 61.8% retracement where we could see a further upside above this level with 1.22900 as our first resistance target. Failure to hold above the 1.21336 support level could see a swing towards our next support target at 1.20700.\u00a0<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n GBP\/USD:<\/b><\/p>\n Looking at the weekly chart, we can see that prices are facing bullish pressure from our ascending trend line and support at 1.40000 where we could see a further upside above this level to our resistance target at 1.43000, in line with the 78.6% fibonacci extension. The daily time frame echoes the same bullish view as well where we could see a limited upside above our support level at 1.40000 with 1.43000 as our resistance target.\u00a0<\/span><\/p>\n On the H4 timeframe, prices are trading between our support and resistance levels at 1.41123 and 1.42200 respectively. A break above the resistance at 1.42200 in line with our 127.2% fibonacci extension could see a further push up to our next resistance target at 1.43000.\u00a0<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n AUD\/USD:<\/b><\/p>\n From the Weekly timeframe, we see price breaking beneath the ascending trendline support, now turned-resistance. It is also in line with 38.2% fibonacci retracement level, price may pull back to tap on the 0.77466 level before pushing lower to previous swing low.\u00a0 From the daily timeframe, we see that price has also broken beneath the ascending trendline in line with 78.6% fibonacci retracement, where we may see a push down towards the 0.76513 level, in line with 127% fibonacci retracement.<\/span><\/p>\n On the H4 timeframe, We see price broke beneath the daily resistance and pulled back towards that level at 0.77172, in line with 50% fibonacci retracement and horizontal graphical overlap. Price may push down towards the previous swing low for more bearish momentum.<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n USD\/JPY<\/b><\/p>\n From the weekly timeframe, prices are facing resistance from horizontal swing high resistance which coincides with 50% Fibonacci retracement and 78.6% Fibonacci extension, taking support from 104.224 level which is in line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension. On the daily time frame, prices are facing support from 108.425 level which coincides with 61.8% Fibonacci retracement and 50% Fibonacci extension. Prices might bounce towards daily resistance level 110.978 in line with 78.6% Fibonacci retracement. Daily EMA is also below prices, showing a bullish pressure for prices.\u00a0<\/span><\/p>\n On the H4 timeframe, prices might take support on 108.425 support level in line with 61.8% Fibonacci retracement and 50% Fibonacci extension. Prices might push up towards the daily resistance level of 110.978. If prices did not push up further, prices could fall and take support on 106.916 level, in line with 161.8% Fibonacci retracement. MACD is also above the zero line, giving a bullish pressure on prices.\u00a0\u00a0<\/span><\/p>\n \u00a0<\/span>Areas of consideration:<\/span><\/p>\n USD\/CAD:<\/b><\/p>\n From the Weekly timeframe, we see price trending between the previous swing high in line with 78.6% fibonacci retracement, and the ascending trendline, it is currently testing the support level from 11th May (2015), in line with 61.8%, 161.8% fibonacci extension. From the daily timeframe, we see that price bounced from the recent support level 1.20284 in line with 61.8% fibonacci extension, where it\u2019s consolidating between this level and 1.21336, in line with 78.6% fibonacci extension, 61.8% fibonacci retracement.<\/span><\/p>\n The H4 timeframe shows price testing the level of 1.20705, in line with 78.6%, 78.6% fibonacci retracement and horizontal graphical overlap. If price manages to break under this level, we may see a further drop\u00a0 towards 1.20255, in line with Weekly, daily support, 127% and 161.8% fibonacci retracement.<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n USD\/CHF:<\/b><\/p>\n USD\/CHF is now testing the weekly 0.89800 support, in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. The daily chart shows that price is now holding below the key daily 0.92300 support-turned-resistance, and has also broken below the ascending trendline support-turned-resistance. The weekly 0.89800 support level is a key level to watch.<\/span><\/p>\n On the H4 chart, we can see that price pulled back to retest the 0.90800 resistance, which is in line with our 23.6% Fibonacci retracement and 127.2% Fibonacci extension. We also note that price is now holding below the moving average resistance, showing bearish pressure in line with our analysis. In this scenario, a break and close below the key 0.89800 support would see price swing towards the next weekly 0.87600 support level. Otherwise, price could also pull back to retest the moving average resistance and 0.90800 resistance.<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n\n
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