Supports and resistances on the major currency pairs today on 05/05/2017

05.05.2017 / 11:22

Rating:

EUR/USD -- Bullish case strengthened post-close above 1.0934, 61.8% Fibonacci retracement of drop since U.S. elections
3rd resistance: 1.1095, 78.6% Fibonacci retracement
2nd resistance: 1.1061, pivot r2
1st resistance: 1.0995, 100-week MA
Spot: 1.0980
1st support: 1.0947-51, series of highs post-France first election round
2nd support: 1.0906, March 27 high
3rd support: 1.0821, April 24 low

AUD/USD -- Tests 0.7385, the 61.8% Fibonacci retracement support of December-March rise
3rd resistance: 0.7509, 21-DMA
2nd resistance: 0.7480, May 3 mid open/close price
1st resistance: 0.7416, Asia session high
Spot: 0.7390
1st support: 0.7352, Jan. 11 low
2nd support: 0.7331, Jan. 10 low
3rd support: 0.7286, 78.6% Fibo

GBP/USD -- Setback seen part of a consolidation as RSI resets to neutral
3rd resistance: 1.3055, 38.2% Fibo retracement of Brexit-flash crash drop
2nd resistance: 1.2966-69, May 1 high, 55-week MA
1st resistance: 1.2948, May 3 high
Spot: 1.2927
1st support: 1.2831, May 4 low
2nd support: 1.2757, April 21 low
3rd support: 1.2740-28, 21-, 233-DMAs

USD/JPY -- Year-to-date channel top caps, makes case for retracement
3rd resistance: 113.05, May 4 high
2nd resistance: 112.94, YTD channel top
1st resistance: 112.87, ichimoku cloud top
Spot: 112.20
1st support: 111.97, May 3 low
2nd support: 111.81-78, 55-DMA, May 2 low
3rd support: 111.58, trendline support since April 26

EUR/JPY -- Hits fresh near four-month high as bullish momentum persists post year-to-date trendline breakout
3rd resistance: 123.86, Dec. 30 high
2nd resistance: 123.73, Jan. 9 high
1st resistance: 123.67, Asia session high
Spot: 123.11
1st support: 122.60, May 4 low, May 2 high
2nd support: 122.11, daily trendline since December
3rd support: 121.86, May 2 low

EUR/GBP -- Close above 21-DMA poses upside risks
3rd resistance: 0.8552, 55-DMA
2nd resistance: 0.8531, April 25-26 double-top
1st resistance: 0.8509, Asia session high
Spot: 0.8494
1st support: 0.8462, 21-DMA
2nd support: 0.8423, May 2 low
3rd support: 0.8405, April 28 low

USD/CHF -- Consolidates inside wide range of April 24
3rd resistance: 1.0000-09, April 21 high, April 13 low
2nd resistance: 0.9957, May 4 high
1st resistance: 0.9891, May 3 low
Spot: 0.9873
1st support: 0.9856-59, April 24-Asia session lows
2nd support: 0.9832, March 28 low
3rd support: 0.9814, March 27 low

EUR/NOK -- Builds on NOK broad weakness to test Brexit day highs and rise above 9.5429, last Fibo resistance of 2016-2017 drop
3rd resistance: 9.7482, Feb. 2016 high
2nd resistance: 9.6105, pivot r2
1st resistance: 9.5780-5820, Asia session-June 24 highs
Spot: 9.5448
1st support: 9.4145, May 4 low
2nd support: 9.3970, May 2 high
3rd support: 9.3697 May 3 low

Junior Trader Ivan Ivanov

Varchev Traders

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Supports and resistances on the major currency pairs today on 05/05/2017

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