FOREX:Euro Close Below 55-WMA Opens Room for $1.1709 Test: Major Support and Resistance 16.05.2018

EUR/USD -- Bloomberg Trender Indicator caps the upside and
euro hits fresh year-to-date low; 55-weekly MA may provide
support by Friday yet a close below exposes 1.1709;
* 3rd resistance: 1.2021, 200-DMA
* 2nd resistance: 1.1996, May 14 high
* 1st resistance: 1.1879, midpoint of Tuesday range
* Spot: 1.1836
* 1st support: 1.1816, session low
* 2nd support: 1.1768, last Fibonacci retracement of gains since
Nov. 7
* 3rd support: 1.1709, 38.2% Fibonacci retracement of gains
since January 2017

GBP/USD -- Bears looking at the price target of double-top
at around 1.3100 need 233-DMA support to give away before
getting comfortable; resistance by trend line since April 2017
defines upper end of rally attempts
* 3rd resistance: 1.3712-13, neck line, April 30 low
* 2nd resistance: ~1.3600, trend line
* 1st resistance: 1.3572, May 15 high
* Spot: 1.3515
* 1st support: 1.3479, 233-DMA
* 2nd support: 1.3451, May 15 low
* 3rd support: 1.3408, 38.2% Fibonacci retracement of rally
since October 2016 flash crash

USD/JPY -- Bulls get the close above 200-DMA they looked
for as to extend rally since March, fresh high stops exactly at
the 233-DMA; 21-DMA support needs to hold for a move higher;
* 3rd resistance: 110.85, 61.8% Fibonacci retracement of losses
since Nov. 6
* 2nd resistance: 110.47, 55-weekly MA
* 1st resistance: 110.43, 233-DMA, May 15 high
* Spot: 110.27
* 1st support: 110.04, May 2 high
* 2nd support: 109.65, May 15 low
* 3rd support: 109.14, 21-DMAA

AUD/USD -- Conflicting signals overall, with bearish bias
on the daily; on a monthly basis, daily close above 0.7561 suggests short-
term bottom in place; forms Monday a bearish engulfing line,
risking a move toward cycle lows
* 3rd resistance: 0.7621, April 24 high
* 2nd resistance: 0.7556, 21-DMA
* 1st resistance: 0.7538, May 15 high
* Spot: 0.7481
* 1st support: 0.7447, session low
* 2nd support: 0.7412, May 9 low
* 3rd support: 0.7396, pivot s2

Source Bloomberg Pro Terminal

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