FOREX: Euro and Pound at Key Juncture With 55-DMA in Play; Major support and resistance 01.03.2018

01.03.2018 / 15:30

Rating:

EUR/USD -- Support at 1.2206 finally gives in; 55-DMA could
absorb selling pressure before key 1.2070-90 area comes into
play
* 3rd resistance: 1.2338, 21-DMA
* 2nd resistance: 1.2316, trendline from Feb. 19 high
* 1st resistance: 1.2242, Wednesday high
* Spot: 1.2204
* 1st support: 1.2183, 55-DMA
* 2nd support: 1.2165, Jan. 18 low
* 3rd support: 1.2089, Jan. 12 high

GBP/USD -- Closes below 55-DMA for the first time in three
months; scope for test of year-to-date lows
* 3rd resistance: 1.3953, 21-DMA
* 2nd resistance: 1.3857, Feb. 22 low
* 1st resistance: 1.3783, 55-DMA
* Spot: 1.3757
* 1st support: 1.3706, pivot s1
* 2nd support: 1.3642, 78.6% Fibonacci retracement of gains
since Jan. 11
* 3rd support: 1.3613, Jan. 3 high

USD/JPY -- Upside is all about 21-DMA; 105.55 month lows
always in sight
* 3rd resistance: 107.94-108.01, 21-DMA, 50% retracement of
February losses-Ichimoku base line
* 2nd resistance: 107.68, Feb. 27 high
* 1st resistance: 107.00, conversion line
* Spot: 106.79
* 1st support: 106.55, Asia session low
* 2nd support: 106.38, Feb. 26 low
* 3rd support: 105.55, YTD low

AUD/USD -- Trades heavy as 21-DMA bearishly crosses 55-DMA
* 3rd resistance: 0.7862-69, 21-, 55-DMA
* 2nd resistance: 0.7801, pivot r2
* 1st resistance: 0.7784, Feb. 27 low
* Spot: 0.7730
* 1st support: 0.7695, Dec. 15 high
* 2nd support: 0.7664, pivot s3
* 3rd support: 0.7638, 78.6% Fibonacci retracement of gains
since December

Source: Bloomberg Pro Terminal

Trader Velizar Mitov

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FOREX: Euro and Pound at Key Juncture With 55-DMA in Play; Major support and resistance 01.03.2018

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