EUR/USD -- Retreat leg potentially over as market finds
renewed strength against 1.2351-23 support zone (ichimoku ‘fast’
line, prior break-up point and 200-hour MA)
* 3rd resistance: 1.2537, price high
* 2nd resistance: 1.2494, price high
* 1st resistance: 1.2438-42, pivot r1, price high
* Spot: 1.2420
* 1st support: 1.2323, price highs
* 2nd support: 1.2306-02, price high, 13-DMA
* 3rd support: 1.2293, price low
GBP/USD -- Mean-reversion potentially complete near 13-day
MA at 1.3963
* 3rd resistance: 1.4209, price high
* 2nd resistance: 1.4143, daily pivot
* 1st resistance: 1.4111, price low
* Spot: 1.4093
* 1st support: 1.4006-1.3997, price low, 38.2% Fibonacci of Jan.
rally
* 2nd support: 1.3963, 13-day MA
* 3rd support: 1.3916, price low
USD/JPY -- Consolidates inside Friday’s large bearish
range; short-term risks keep pointing to deeper bear extension
toward 2017 trough at 108.09; risk line for near-term bears
trails down to 109.77
* 3rd resistance: 110.19, price low
* 2nd resistance: 109.77-88, price high, ichimoku conversion
line
* 1st resistance: 109.27, pivot r1
* Spot: 108.60
* 1st support: 108.51, price low
* 2nd support: 108.28, price low
* 3rd support: 108.09, a price low in 2017
AUD/USD -- Poised for new cycle highs; finishes last week
up for 7th consecutive week and at highest since 2015
* 3rd resistance: 0.8234, a price high in 2015
* 2nd resistance: 0.8164, a price high in 2015
* 1st resistance: 0.8136, price high
* Spot: 0.8090
* 1st support: 0.8016-05, 13-DMA, price low
* 2nd support: 0.7994, price low
* 3rd support: 0.7957, price low
Source: Bloomberg Pro Terminal
Trader: Velizar Mitov
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