Major Support and Resistance FOREX 12.7.2017

12.07.2017 / 15:05

Rating:

EUR/USD -- Must hold bid tone above ~1.1440 breakout zone to
quell risks stemming from RSI divergence; large 1.15 option
expiry on Friday (EU1.7b)
* 3rd resistance: 1.1616, May 3 2016 high
* 2nd resistance: 1.1529, May 4 2016 high
* 1st resistance: 1.1488, May 5 2016 high
* Spot: 1.1457
* 1st support: 1.1440, July 7 high
* 2nd support: 1.1418, July 10 high
* 3rd support: 1.1383, July 7 low

GBP/USD -- Retraces 50% of rally from June 21 that was
fueled by perceived hawkish shift in BOE tone
* 3rd resistance: 1.2984, July 6 high
* 2nd resistance: 1.2927-31, July 11 high, July 7 mid
price
* 1st resistance: 1.2865, Asia high
* Spot: 1.2851
* 1st support: 1.2810, ichimoku baseline, pivot s1
* 2nd support: 1.2794, June 28 low
* 3rd support: 1.2760-57, June 26 high, 61.8% Fibonacci

USD/CHF -- Bears retain full control after holding market
below prior swing level (0.9688)
* 3rd resistance: 0.9696, July 11 high
* 2nd resistance: 0.9680, pivot r1
* 1st resistance: 0.9653, daily pivot
* Spot: 0.9630
* 1st support: 0.9598, June 30 high
* 2nd support: 0.9570, July 3 low
* 3rd support: 0.9556-53, 200-week MA, June 30 low

USD/JPY -- Validating bearish reversal session registered
Tuesday against 114.37 resistance; eyes 113.11 ichimoku line
* 3rd resistance: 114.82, pivot r2
* 2nd resistance: 114.49, July 11 high
* 1st resistance: 113.97-114.05, Asia high, daily pivot
* Spot: 113.43
* 1st support: 113.11, ichimoku conversion line
* 2nd support: 112.89-83, July 6, 5 lows
* 3rd support: 112.60, June 30 high

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Trader Велизар Митов

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Major Support and Resistance FOREX 12.7.2017

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