EURUSD closed lower on Tuesday as it extends this summer's trading range. The mid-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible near-term.
Support : $1.4428, 1.4404, 1.4380, 1.4350, 1.4332 Resistance: 1.4476, 1.44500, 1.4524, 1.4548, 1.4572
USDJPY closed lower on Tuesday and the low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are bullish signalling that sideways to lower prices are possible near-term. If it renews last week's rally, the 25% retracement level of the April-August decline crossing is the next upside target.
Support: Y76.42, 76.18, 75.94, 75.70, 75.46Resistance: 76.90, 77.14, 77.38, 77.62, 77.86
GBPUSD closed lower on Tuesday and The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would confirm that a short-term low has been posted.
Support: 0.8178, 0.8159, 0.8140, 0.8121, 0.8102 Resistance: 1.6328, 1.6347. 1.6366, 1.6385, 1.6404
USDCHF closed higher on Tuesday and The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off last week's low, the 38% retracement level of the 2010-2011-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term high has been posted.
Support: 0.8171, 0.8145, 0.8119, 0.8093, 0.80687 Resistance: 0.8223, 0.8249, 0.8275, 0.8301, 0.8327
Courtesy: HY Markets
