FOREX: EUR Faces 55-DMA Test, GBP Bullish Momentum Fades:Major Support and Resistance 19.03.2018

19.03.2018 / 15:01

Rating:

EUR/USD -- Downside risks emerged as February trendline
capped, 55-DMA support tested, now at 1.2284
* 3rd resistance: 1.2392, trendline since three-year and YTD
high
* 2nd resistance: 1.2336, March 16 high
* 1st resistance: 1.2319, 21-DMA
* Spot: 1.2270
* 1st support: 1.2223, pivot s3
* 2nd support: 1.2173, 38.2% Fibonacci retracement of gains
since Nov. 7
* 3rd support: 1.2155, March 1 low

GBP/USD -- Consolidates gains as 21- and 55-DMAs support
for now with downside risks in place
* 3rd resistance: 1.4028, 50% retreat of drop since YTD high
* 2nd resistance: 1.3994-96, March 13-14 double-top
* 1st resistance: 1.3980, March 16 high
* Spot: 1.3930
* 1st support: 1.3904, 21-DMA
* 2nd support: 1.3890, 55-DMA
* 3rd support: 1.3875, March 13 low

USD/JPY -- Bulls fail to win battle with 21-DMA resistance
while trendline since Feb. 21 still caps
* 3rd resistance: 107.29, March 13 high
* 2nd resistance: 107.12, trendline
* 1st resistance: 106.53, 21-DMA
* Spot: 105.70
* 1st support: 105.60, pivot s3
* 2nd support: 105.46, March 7 low
* 3rd support: 105.25, YTD low

AUD/USD -- Capped by 55-DMA, turns bearish and heads for
worst three-day run in more than two years
* 3rd resistance: 0.7813, 21-DMA
* 2nd resistance: 0.7804, March 16 high
* 1st resistance: 0.7733, pivot r2
* Spot: 0.7700
* 1st support: 0.7654, Dec. 5 high
* 2nd support: 0.7638, 78.6% Fibonacci retracement of gains
since December
* 3rd support: 0.7628, Dec. 14 low

Source Bloomberg Pro Terminal

Trader: Velizar Mitov

Varchev Traders

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FOREX: EUR Faces 55-DMA Test, GBP Bullish Momentum Fades:Major Support and Resistance 19.03.2018

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