Technical levels for the major currency pairs

15.05.2017 / 10:16

Rating:

* EUR/GBP -- Fails to rise through daily trendline resistance yet again
* 3rd resistance: 0.8548, 55-DMA
* 2nd resistance: 0.8509, May 5 high
* 1st resistance: 0.8487, daily trendline since April
* Spot: 0.8468
* 1st support: 0.8440, 21-DMA
* 2nd support: 0.8384, May 10 low
* 3rd support: 0.8361, 78.6% Fibonacci retracement of April 18-26 advance

* GBP/USD -- May re-test recent highs as 21-DMA support holds
* 3rd resistance: 1.3055, 38.2% Fibonacci retracement of Brexit-flash crash drop
* 2nd resistance: 1.2984-89, series of highs since May 5
* 1st resistance: 1.2949, May 11 high
* Spot: 1.2909
* 1st support: 1.2869, 21-DMA, May 11 low
* 2nd support: 1.2831, May 4 low
* 3rd support: 1.2757, April 21 low

* USD/JPY -- First Fibonacci retracement of rise since April 17 at 112.90 may come into play
* 3rd resistance: 115.51, March 30 high
* 2nd resistance: 114.60, 61.8% Fibonacci retracement of YTD drop
* 1st resistance: 114.37, May 10-11 double-top
* Spot: 113.37
* 1st support: 113.17, ichimoku conversion line
* 2nd support: 112.40, May 8 low
* 3rd support: 111.90, 55-DMA

* EUR/JPY -- Consolidates near highs as bullish picture intact for now
* 3rd resistance: 125.32, 50% retreat of June 2015-June 2016 drop
* 2nd resistance: 124.59, May 8 high
* 1st resistance: 124.43, May 11 high
* Spot: 123.95
* 1st support: 123.31-32, May 12-11 lows
* 2nd support: 122.93-99, May 5-8 lows
* 3rd support: 122.29, 23.6% Fibonacci retracement of rise since April 17

* EUR/USD -- Steep rebound after testing 21-DMA for first time in three weeks
* 3rd resistance: 1.1023, May 8 high
* 2nd resistance: 1.0950, May 5 low
* 1st resistance: 1.0938, pivot r2
* Spot: 1.0933
* 1st support: 1.0893-98, May 11-12 highs
* 2nd support: 1.0861, 21-DMA
* 3rd support: 1.0821, April 24 low

* AUD/USD -- May extend corrective rebound to 21-DMA
* 3rd resistance: 0.7480, May 3 mid open/close price
* 2nd resistance: 0.7468, 21-DMA
* 1st resistance: 0.7427-30, May 5-4 highs
* Spot: 0.7399
* 1st support: 0.7369, May 12 low
* 2nd support: 0.7329, May 9 low
* 3rd support: 0.7286, 78.6% Fibonacci retracement of December-March rise

* EUR/NOK -- Correction since 9.5429, last Fibonacci resistance of 2016-2017 drop, capped may end as 21-DMA looks to support
* 3rd resistance: 9.5780-5820, May 5-June 24 highs
* 2nd resistance: 9.4766, May 10 high
* 1st resistance: 9.3885, May 11 high
* Spot: 9.3547
* 1st support: 9.3389, 21-DMA, 50% retreat of gains since April 13
* 2nd support: 9.2958, April 28 low
* 3rd support: 9.2343, April 24 low

* USD/CHF -- Fails to overtake April 10 high as to establish downtrend reversal, could enter sideways trading
* 3rd resistance: 1.0142, 61.8% Fibonacci retracement of drop since December
* 2nd resistance: 1.0107, April 10 high
* 1st resistance: 1.0042, pivot r3
* Spot: 1.0011
* 1st support: 0.9975, 21-DMA
* 2nd support: 0.9965-67, May 1-2 double-top
* 3rd support: 0.9866, May 8 low

Source: Bloomberg pro terminal

Trader Nikolay Georgiev

Varchev Traders

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Technical levels for the major currency pairs

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