FOREX: Dollar Rebound May Have Legs on 55-DMA Signals: Major Support and Resistance 21.03.2018г

21.03.2018 / 16:44

Rating:

EUR/USD -- Downside risks intact as February trendline caps
and 55-DMA support gives in; BBDXY closes Tuesday above its 55-
DMA for the first time in more than three months
* 3rd resistance: 1.2376, trendline since three-year and YTD
high
* 2nd resistance: 1.2311, 21-DMA
* 1st resistance: 1.2293, 55-DMA
* Spot: 1.2262
* 1st support: 1.2203, pivot s1
* 2nd support: 1.2173, 38.2% Fibonacci retracement of gains
since Nov. 7
* 3rd support: 1.2155, March 1 low

GBP/USD -- Bullish break in play; make-or-break moment on a
test of strong support near 1.3910; bulls need close above
1.4103
* 3rd resistance: 1.4103, 61.8% Fibonacci retracement of drop
since Jan. 25
* 2nd resistance: 1.4088, March 19 high
* 1st resistance: 1.4067, March 20 high
* Spot: 1.4003
* 1st support: 1.3994-96, March 13-14 double-top
* 2nd support: 1.3932, pivot s2
* 3rd support: 1.3909-10, 21-, 55-DMA, trendline since Jan. 25
high acting now as support

USD/JPY -- Bulls still battle with 21-DMA resistance while
trendline since Feb. 21 caps; a breakout above trendline or a
fresh YTD low could signal start of a large move
* 3rd resistance: 107.29, March 13 high
* 2nd resistance: 107.03, trendline
* 1st resistance: 106.50, 21-DMA
* Spot: 106.41
* 1st support: 105.68, March 19 low
* 2nd support: 105.46, March 7 low
* 3rd support: 105.25, YTD low

AUD/USD -- Drop below March 1 low gives leeway to bears to
hold on exposure
* 3rd resistance: 0.7883, 55-DMA
* 2nd resistance: 0.7795, 21-DMA
* 1st resistance: 0.7727, March 19 high
* Spot: 0.7702
* 1st support: 0.7679, March 20 low
* 2nd support: 0.7654, Dec. 5 high
* 3rd support: 0.7638, 78.6% Fibonacci retracement of gains
since December

Source: Bloomberg Pro Terminal

Trader Velizar Mitov

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FOREX: Dollar Rebound May Have Legs on 55-DMA Signals: Major Support and Resistance 21.03.2018г

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