FOREX: Major Support and Resistance 17.11.2017

17.11.2017 / 16:48

Rating:

EUR/USD -- Rally petering out against ichimoku cloud and
55-DMA; for now, expect near-term consolidation lower; only a
move below 1.1690 reinstates the negative outlook and until then
dips may attract buying interest
* 3rd resistance: 1.1877, ichimoku cloud top
* 2nd resistance: 1.1861, Nov. 15 high
* 1st resistance: 1.1822, Asia high
* Spot: 1.1795
* 1st support: 1.1757-44, Nov. 16 low, 100-DMA
* 2nd support: 1.1715-08, ichimoku lines
* 3rd support: 1.1690, Nov. 3 high

GBP/USD -- Testing possible ‘fade’ resistance area at
1.3240-62 (55-DMA, cloud top, 76.4% Fibonacci)
* 3rd resistance: 1.3321, Nov. 1 high
* 2nd resistance: 1.3299, Nov. 2 high
* 1st resistance: 1.3262, ichimoku cloud top
* Spot: 1.3254
* 1st support: 1.3191, Asia session low
* 2nd support: 1.3179, daily pivot line
* 3rd support: 1.3131, Nov. 15 low

USD/JPY -- Tests 112.38 Fibonacci support, seen as the
breakdown point to ~111.75 where major moving-averages converge
* 3rd resistance: 113.60, 21-DMA
* 2nd resistance: 113.50, Nov. 15 high
* 1st resistance: 113.33-37, Nov. 16 high, ichimoku conversion
line
* Spot: 112.52
* 1st support: 112.38, 76.4% Fibonacci of Oct. 16-Nov. 6 rally
* 2nd support: 112.14-04, Nov. 18, 17 lows
* 3rd support: 111.77-74, 200-, 100-DMA’s

AUD/USD -- Dives to lowest since June to test 100-week MA
at 0.7542; next Fibonacci support at 0.7517
* 3rd resistance: 0.7650-54, Nov. 9, 10 low
* 2nd resistance: 0.7633, Nov. 15 high
* 1st resistance: 0.7610, Nov. 14 low
* Spot: 0.7552
* 1st support: 0.7542-35, 100-week MA, June 22 low
* 2nd support: 0.7517, 76.4% Fibonacci of May-Sept. rise
* 3rd support: 0.7500, June 7 low

Source: Bloomberg Pro Terminal

Trader: Velizar Mitov

Varchev Traders

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FOREX: Major Support and Resistance 17.11.2017

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