FOREX: Major Support and Resistance 29.12.2017

29.12.2017 / 13:35

Rating:

EUR/USD -- Hits a fresh three-month high to shift spotlight
on Sept. highs spanning from 1.2004-92; eyes 2017 close above
1.20
* 3rd resistance: 1.2092, Sept. 8 high
* 2nd resistance: 1.2033, Sept. 20 high
* 1st resistance: 1.2004, Sept. 22 high
* Spot: 1.1973; EUR up 14% year-to-date vs USD
* 1st support: 1.1937, Asia low
* 2nd support: 1.1910, Dec. 27 high
* 3rd support: 1.1888, Dec. 28 low

USD/JPY -- Starting to erode cloud top and 61.8% Fibonacci
support at 112.70-65, which clear way for baseline test at
112.29
* 3rd resistance: 113.38, Dec. 27 high
* 2nd resistance: 113.15, Dec. 27 low
* 1st resistance: 112.97, Dec. 29 high
* Spot: 112.84; JPY up 3.9% year-to-date vs USD
* 1st support: 112.51-41, Dec. 19 low, 76.4% Fibonacci
* 2nd support: 112.29, ichimoku baseline
* 3rd support: 112.15, daily cloud base

GBP/USD -- Breaking out above mid-month peak at 1.3466
which opens up Nov. highs at 1.3549
* 3rd resistance: 1.3596, Sept. 22 high
* 2nd resistance: 1.3550, Dec. 1 high
* 1st resistance: 1.3520, Dec. 8 high
* Spot: 1.3500; GBP up 9.4% year-to-date vs USD
* 1st support: 1.3429, Asia low
* 2nd support: 1.3402, 21-DMA
* 3rd support: 1.3368, Dec. 17 low

AUD/USD -- Testing upper bound of daily cloud at 0.7817
after successful breach 100-DMA (0.7778); last topside break
above cloud June 14 led to a 7% spot rally up to September peak
* 3rd resistance: 0.7888, 61.8% Fibonacci of Sept./Dec. selloff
* 2nd resistance: 0.7835, Oct. 23 high
* 1st resistance: 0.7817, ichimoku cloud top
* Spot: 0.7805; AUD up 8.3% year-to-date vs USD
* 1st support: 0.7778-65, 100-DMA, Dec. 28 low
* 2nd support: 0.7732, Dec. 25 high
* 3rd support: 0.7713, Dec. 26 low

Source Bloomberg Pro Terminal

Trader Velizar Mitov

Varchev Traders

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FOREX: Major Support and Resistance 29.12.2017

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