FOREX: Major Support and Resistance 24.10.2017

24.10.2017 / 15:35

Rating:

EUR/USD -- Susceptible to slippage below ichimoku cloud
(1.1732), first time since March; large head-and-shoulders top
formation in the making this week with 1.1670 closing break
required to add credence to reversal pattern
* 3rd resistance: 1.1818, Oct. 20 mid open/close price
* 2nd resistance: 1.1802, daily pivot
* 1st resistance: 1.1784-88, 21-, 13-DMAs
* Spot: 1.1765
* 1st support: 1.1732-25, ichimoku cloud base, Oct. 23 low
* 2nd support: 1.1718, Oct. 9 low
* 3rd support: 1.1670, Oct. 6 low

GBP/USD -- Upholds mild downside bias while below down-
slopping 21-DMA
* 3rd resistance: 1.3342, 50% retrace of Sept./Oct. fall
* 2nd resistance: 1.3287, Oct. 17 high
* 1st resistance: 1.3229-45, Oct. 19 high, 21-DMA
* Spot: 1.3201
* 1st support: 1.3194, daily pivot line
* 2nd support: 1.3158, Oct. 23 low
* 3rd support: 1.3141, 61.8% Fibonacci of Oct. 20 rise

AUD/USD -- 0.7772 Fibonacci support guards the current
month low at 0.7733
* 3rd resistance: 0.7884, Oct. 19 high
* 2nd resistance: 0.7847-49, Oct. 20 mid price, daily cloud base
* 1st resistance: 0.7835, 21-DMA
* Spot: 0.7785
* 1st support: 0.7772, 76.4% Fibonacci of October rally
* 2nd support: 0.7750, Oct. 10 low
* 3rd support: 0.7733, October lows

USD/JPY -- Post-election consolidation may have run its
course as market prepares to launch to fresh 15-week high; July
peak on the map at 114.49
* 3rd resistance: 114.49, July 11 high
* 2nd resistance: 114.10, Oct. 23 high
* 1st resistance: 113.94, pivot r1
* Spot: 113.68
* 1st support: 113.25, Oct. 23 low
* 2nd support: 113.15-03, Oct. 19 high, Oct. 20 mid open/close
price
* 3rd support: 112.88, ichimoku conversion line

Source: Bloomberg Pro Terminal

Trader: Velizar Mitov

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FOREX: Major Support and Resistance 24.10.2017

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