FOREX:Major Support and Resistance 22.02.2018

22.02.2018 / 16:37

Rating:

EUR/USD -- Attention turns to 1.2206 swing low and line-in-
the-sand for short-term bulls; below here would extend the
corrective cycle in terms of time and scope
* 3rd resistance: 1.2360-69, price high, price low
* 2nd resistance: 1.2336, pivot r1
* 1st resistance: 1.2308-20, daily pivot price low
* Spot: 1.2291
* 1st support: 1.2257, pivot s1
* 2nd support: 1.2235, price low
* 3rd support: 1.2206, price low

GBP/USD -- Any intraday recovery above 1.3932 (the two-
thirds retrace line of recent bull swing) will offer early
warning of downside exhaustion; conversely, any bear extension
to encounter strong support at 1.3765-37
* 3rd resistance: 1.4048-50, pivot r2, price high
* 2nd resistance: 1.4009, price high
* 1st resistance: 1.3944, pivot line
* Spot: 1.3893
* 1st support: 1.3855, 76.4% Fibonacci
* 2nd support: 1.3840, pivot s1
* 3rd support: 1.3800, price low

USD/JPY -- Robust resistance at 107.90-108.01 curtails
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, 50% retracement
line
* Spot: 107.26
* 1st support: 107.00-106.96, 38.2% Fibonacci, mid body candle
* 2nd support: 106.73, price high
* 3rd support: 106.56-45, price low, 61.8% Fibonacci

AUD/USD -- Breaks into ichimoku cloud region where the dual
moving-average lines reside at 0.7777-73; to derail the bullish
medium-term outlook market must close below 0.7759
* 3rd resistance: 0.7901, price high
* 2nd resistance: 0.7874, price low
* 1st resistance: 0.7843-49, mid candle body, 55-day MA
* Spot: 0.7818
* 1st support: 0.7777-73. 100-, 200-DMAs
* 2nd support: 0.7759, price low
* 3rd support: 0.7732, price high

Source Bloomberg Pro Terminal

Trader Velizar Mitov

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FOREX:Major Support and Resistance 22.02.2018

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