Technical levels of the major currency pairs 05.06.2017

05.06.2017 / 12:17

Rating:

* EUR/USD -- Re-establishing uptrend despite ominous RSI setup
* 3rd resistance: 1.1327, Sept. 8 high
* 2nd resistance: 1.1300, Nov. 9 high
* 1st resistance: 1.1285, June 2 high
* Spot: 1.1264
* 1st support: 1.1202, June 1 low
* 2nd support: 1.1165, May 31 low
* 3rd support: 1.1110, May 30 low

* USD/JPY -- Clinging on to 200-DMA (110.36) support with
cloud base lurking just below at 110.16
* 3rd resistance: 111.71-82, June 2 high, cloud top
* 2nd resistance: 111.20, 55-DMA
* 1st resistance: 110.89, June 2 mid open/close price
* Spot: 110.55
* 1st support: 110.24-16, May 18 low, ichimoku cloud base
* 2nd support: 109.60, 76.4% Fibonacci of April/May rise
* 3rd support: 109.42, April 21 high

* AUD/USD -- Friday’s bullish engulfing pattern confirming
into today; scope for rally extension to 0.7529 (200-DMA)
* 3rd resistance: 0.7517, May 23 high
* 2nd resistance: 0.7506, 55-DMA
* 1st resistance: 0.7476, May 31 high
* Spot: 0.7468
* 1st support: 0.7408, Asia low
* 2nd support: 0.7373, June 1 low
* 3rd support: 0.7331-29, weekly cloud base, May 9 low

* USD/CHF -- Positive RSI divergence may limit selloff
* 3rd resistance: 0.9737, May 30 low
* 2nd resistance: 0.9720, June 1 high
* 1st resistance: 0.9670-73 May 31 low, June 2 mid price
* Spot: 0.9640
* 1st support: 0.9623, June 2 low
* 2nd support: 0.9596, pivot s1
* 3rd support: 0.9550, Nov. 9 low

* GBP/USD -- Stays bearish near-term while below falling 21-
DMA at 1.2921
* 3rd resistance: 1.3015, May 25 high
* 2nd resistance: 1.2947, May 26 high
* 1st resistance: 1.2917-27, 21-DMA, May 31 high, 24 low
* Spot: 1.2877
* 1st support: 1.2830, June 1 low
* 2nd support: 1.2769-57, May 31 low, April 21 low
* 3rd support: 1.2748, 55-DMA

* EUR/JPY -- Sideways chop at trend highs are characteristics
of market tops
* 3rd resistance: 126.47, April 28, 2016 high
* 2nd resistance: 125.81, May 25 high
* 1st resistance: 125.31-43, June 2, May 26 high
* Spot: 124.53
* 1st support: 124.24, pivot s1
* 2nd support: 123.73, May 31 low
* 3rd support: 123.16, May 30 low

* EUR/GBP -- Friday move restores upward momentum, setting up
March high objective at 0.8788
* 3rd resistance: 0.8854, Jan. 16 high
* 2nd resistance: 0.8818, Jan. 17 high
* 1st resistance: 0.8788, March 13 high
* Spot: 0.8751
* 1st support: 0.8730, June 2 mid open/close price
* 2nd support: 0.8695-84, June 2, 1 low
* 3rd support: 0.8657, May 26 low

* EUR/NOK -- Pausing ahead of 76.4% Fibonnacci at 9.5161
although bias remains for upside continuation
* 3rd resistance: 9.6200, Feb. 24, 2016 high
* 2nd resistance: 9.5780, May 5 high
* 1st resistance: 9.5161, 76.4% Fibonacci of May 5-19 fall
* Spot: 9.4792
* 1st support: 9.4510, June 1 low
* 2nd support: 9.4289, May 31 low
* 3rd support: 9.3793, May 30 low

Source: Bloomberg Pro Terminal

Jr Trader Ivan Ivanov

Varchev Traders

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Technical levels of the major currency pairs 05.06.2017

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