FOREX Major Support and Resistance 28.9.2017

28.09.2017 / 13:47

Rating:

EUR/USD -- Road to 1.1600 handle remains open as BBDXY
heads for Fibonacci retracement test
* 3rd resistance: 1.1862-66, double-bottom on Sept. 20-21
* 2nd resistance: 1.1811, 55-DMA
* 1st resistance: 1.1758, Sept. 26 low
* Spot: 1.1723
* 1st support: 1.1679, 23.6% Fibonacci retracement of 2017 rally
* 2nd support: 1.1662, Aug. 17 low
* 3rd support: 1.1600, H&S price target

USD/JPY -- Marginal close above 2017 downtrend needs to
develop to confirm bullish breakout toward 114.00
* 3rd resistance: 114.49, July 11 high
* 2nd resistance: 114.29, 61.8% Fibonacci retracement of 2017
drop
* 1st resistance: 113.58, July 14 high
* Spot: 113.06
* 1st support: 112.84, 2017 trendline
* 2nd support: 112.22, Sept. 27 low
* 3rd support: 111.48-50, Sept. 25-26 double-bottom

GBP/USD -- Bearish bias materializes on mean reversion
* 3rd resistance: 1.3596, Sept. 22 high
* 2nd resistance: 1.3514, Sept. 26 high
* 1st resistance: 1.3461, Sept. 27 high
* Spot: 1.3379
* 1st support: 1.3329, Sept. 13 high
* 2nd support: 1.3320, 38.2% Fibonacci retracement of rise since
Aug. 24
* 3rd support: 1.3291, 21-DMA

AUD/USD -- Rising wedge breakout target completed at Asia
session low
* 3rd resistance: 0.7971, 21-DMA
* 2nd resistance: 0.7940, 55-DMA
* 1st resistance: 0.7889, Sept. 27 high
* Spot: 0.7825
* 1st support: 0.7806, Asia session low
* 2nd support: 0.7786, July 18 low
* 3rd support: 0.7740, July 13 high

Source: Bloomberg Pro Terminal

Trader Velizar Mitov

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FOREX Major Support and Resistance 28.9.2017

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