FOREX: Major Support and Resistance 14.12.2017

14.12.2017 / 17:15

Rating:

EUR/USD -- Reclaims triple moving-averages (21-, 55-, 100-
DMAs) after strong Wed. session; close above 1.1803 (conversion
line) to be monitored Thursday for base confirmation
* 3rd resistance: 1.1888-1.1904, Dec. 4 high, 76.4% Fibonacci
* 2nd resistance: 1.1868, 61.8% Fibonacci of Nov. 27-Dec. 12 low
* 1st resistance: 1.1848, Dec. 6 high
* Spot: 1.1820
* 1st support: 1.1793-84, Dec. 12 high, Dec. 13 mid open/close
price
* 2nd support: 1.1760, pivot s1
* 3rd support: 1.1718-09, Dec. 12 low, 61.8% Fibonacci

USD/JPY -- Sharp retreat on Wed. mitigates immediate upside
bias; market to hold mild offensive tone while above 112.46
baseline support
* 3rd resistance: 113.58, Dec. 13 high
* 2nd resistance: 113.24, Dec. 11 low
* 1st resistance: 113.05, Dec. 13 mid open/close price
* Spot: 112.83
* 1st support: 112.46, Dec. 13 low, ichimoku baseline
* 2nd support: 112.22, Dec. 7 low
* 3rd support: 111.99, Dec. 6 low

GBP/USD -- Strong bullish Wednesday against 1.3306-1.3299
support (ichimoku baseline, 76.4% Fibonacci) re-opens topside
risks
* 3rd resistance: 1.3550, Dec. 1 high
* 2nd resistance: 1.3520, Dec. 8 high
* 1st resistance: 1.3461, pivot r1
* Spot: 1.3455
* 1st support: 1.3380-69, Dec. 12 high, 21-DMA
* 2nd support: 1.3346, pivot s1
* 3rd support: 1.3304, Dec. 12 low

AUD/USD -- Next layer of resistance located at 0.7685-92;
close on Thursday above 0.7654 would confirm a base for
remainder of month
* 3rd resistance: 0.7720, ichimoku cloud base
* 2nd resistance: 0.7701, Nov. 7 high
* 1st resistance: 0.7685-92, 55-, 200-DMA’s
* Spot: 0.7660
* 1st support: 0.7610, daily pivot
* 2nd support: 0.7598, Dec. 13 mid open/close price
* 3rd support: 0.7580, Dec. 12 high

Source Bloomberg Pro Terminal

Trader Velizar Mitov

Varchev Traders

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FOREX: Major Support and Resistance 14.12.2017

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