FOREX: Major Support and Resistance 21.02.2018

21.02.2018 / 16:23

Rating:

EUR/USD -- Must hold above 61.8% retracement line at 1.2339
on closing basis to keep bulls interested
* 3rd resistance: 1.2412, price high
* 2nd resistance: 1.2380-81, ichimoku conversion, 21-day MA
* 1st resistance: 1.2369, price low
* Spot: 1.2321
* 1st support: 1.2288-76, 76.4% Fibonacci, price low
* 2nd support: 1.2235, price low
* 3rd support: 1.2206, price low

GBP/USD -- Holding above 1.3932, the two-thirds retrace
line of recent bull swing; scope to reveal bull ‘flag’
continuation pattern
* 3rd resistance: 1.4145, price high
* 2nd resistance: 1.4095, 76.4% Fibonacci of Feb. 16 fall
* 1st resistance: 1.4050-64, price high, 61.8% Fibonacci
* Spot: 1.3940
* 1st support: 1.3924, price high
* 2nd support: 1.3910, 61.8% Fibonacci of Feb. 9 upswing
* 3rd support: 1.3882, 76.4% Fibonacci

USD/JPY -- Robust resistance at 107.90-108.01 curtailing
strength; medium-term focus has shifted to 100 handle (see
analysis here)
* 3rd resistance: 108.44, price low
* 2nd resistance: 108.24, mid body candle
* 1st resistance: 107.90-108.01, price high, 13-day MA, 50%
retracement line
* Spot: 107.55
* 1st support: 107.09, pivot
* 2nd support: 106.96, mid body candle
* 3rd support: 106.80, pivot s1

AUD/USD -- Descends to 61.8% Fibonacci, cloud top and and
55-day MA at 0.7852-44; any intraday recovery against these
support lines would turn the risk-reward setup very attractive
for new buyers
* 3rd resistance: 0.7957, pivot r2
* 2nd resistance: 0.7935-40, price high, 21-day MA
* 1st resistance: 0.7901, Asia high
* Spot: 0.7854
* 1st support: 0.7824, 76.4% Fibonacci of Feb. 14 up-swing
* 2nd support: 0.7813, 76.4% Fibonacci of Feb. 9 up-swing
* 3rd support: 0.7773, price low

Source Bloomberg Pro Terminal

Trader Velizar Mitov

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FOREX: Major Support and Resistance 21.02.2018

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