FOREX: Major Support and Resistance 18.10.2017

18.10.2017 / 14:08

Rating:

EUR/USD -- Fibonacci and cloud support at 1.1720-02 may
cushion fall; below 1.1670 required to shift the momentum and
trend narrative to bearish
* 3rd resistance: 1.1841, 55-DMA
* 2nd resistance: 1.1829, Oct. 16 high
* 1st resistance: 1.1800-01, Oct. 17 high, 21-DMA
* Spot: 1.1757
* 1st support: 1.1720, 76.4% Fibonacci of Oct. 6- 12 rise
* 2nd support: 1.1702, daily cloud base
* 3rd support: 1.1670, Oct. 6 low

USD/JPY -- Must reclaim 21-DMA at 112.42 on closing basis
to inspire bulls
* 3rd resistance: 113.02, 76.4% Fibonacci of Oct. 6-16 fall
* 2nd resistance: 112.83, Oct. 10 high
* 1st resistance: 112.52-59, Oct. 12, 11 high, ichimoku
conversion line
* Spot: 112.40
* 1st support: 112.04, Oct. 17 low
* 2nd support: 111.65, Oct. 16 low
* 3rd support: 111.50-48, Sept. 26, 25 lows

GBP/USD -- Confirms upside failure at 50% retrace line at
1.3342; corrective bounce has likely run its course as market
looks to resume late Sept. bear move; conservative bears may
prefer move below 1.3122 for better cues
* 3rd resistance: 1.3287-1.3305, Oct. 17 high, 21-DMA
* 2nd resistance: 1.3225, Oct. 16 low
* 1st resistance: 1.3211, daily pivot line
* Spot: 1.3182
* 1st support: 1.3155-43, Oct. 17 low, 55-DMA
* 2nd support: 1.3122, Oct. 12 low
* 3rd support: 1.3204, 61.8% Fibonacci of Oct. 12/13 rise

AUD/USD -- Break below 0.7815 may lead bulls to capitulate
* 3rd resistance: 0.7908-11, Sept. 22 low, 55-DMA
* 2nd resistance: 0.7897, Oct. 13 high
* 1st resistance: 0.7861, Oct. 17 high
* Spot: 0.7839
* 1st support: 0.7818-15, Oct. 13 low, ichimoku conversion line
* 2nd support: 0.7787, Oct. 12 low
* 3rd support: 0.7771, Oct. 11 low

Source: Bloomberg Pro Terminal

Trader: Velizar Mitov

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FOREX: Major Support and Resistance 18.10.2017

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