USD/JPY
1st support - 115.50 (minor)
1st resistance - 121.85 (moderate)
2nd support - 113.50 (minor )
2nd resistance - 123.70 (moderate)
USD/JPY (last 119.06): The pair is breaking above a bullish continuation triangle pattern and is trading above both the 20- and 50-day moving averages. The RSI remains above the neutrality area of 50 lacking downward momentum. We suggest LONG positions above 115.5 with targets @ 121.85 & 123.7 in extension. Below 115.5 look for further downside with 113.5 & 110 as targets.
EUR/USD
1st support - 1.1100 (minor)
1st resistance - 1.1900 (moderate)
2nd support - 1.0750 (minor )
2nd resistance - 1.2250 (moderate)
EUR/USD (last 1.382): Though the pair is posting a slight rebound from the first support at 1.11, it remains on the downside of the key resistance at 1.19. Both the 20- and 50-day moving averages keeps declining, while the RSI stands below the neutrality area at 50. The configuration remains bearish. We suggest SHORT positions below 1.19 with targets @ 1.11 & 1.075 in extension. Above 1.19 look for further upside with 1.225 & 1.261 as targets.
AUD/USD
1st support - 0.7620 (minor)
1st resistance - 0.8030 (moderate)
2nd support - 0.7400 (minor )
2nd resistance - 0.8300 (moderate)
AUD/USD (last 0.7843): The pair stands below the key resistance at 0.803 while posting a rebound from the first support at 0.762. Both the 20- and 50-day moving averages keeps declining. And the RSI stands below the neutrality area at 50 and is capped by a declining trend line. The configuration remains bearish. We suggest SHORT positions below 0.803 with targets @ 0.762 & 0.74 in extension. Above 0.803 look for further upside with 0.83 & 0.855 as targets.
NZD/USD
1st support - 0.7130 (minor)
1st resistance - 0.7680 (moderate)
2nd support - 0.6950 (major)
2nd resistance - 0.8040 (moderate)
NZD/USD (last 0.7521): The pair is posting a rebound but stands below the resistance at 0.7680. The 20-day moving average is declining and is below the 50-day one, which is also declining. We suggest SHORT positions below 0.768 with targets @ 0.713 & 0.695 in extension. Above 0.768 look for further upside with 0.804 & 0.825 as targets.
GBP/USD
1st support - 1.4815 (minor)
1st resistance - 1.5600 (major)
2nd support - 1.4460 (minor )
2nd resistance - 1.5840 (moderate)
GBP/USD (last 1.5381): The pair is posting a rebound but stands below its resistance at 1.56. The upward potential is likely to be limited by its key resistance at 1.56, as the RSI lacks strong upward momentum. Thus, choppy price action with a bearish bias is expected. To sum up, we suggest SHORT positions below 1.56 with targets @ 1.4815 & 1.446 in extension. Above 1.56, look for further upside with 1.584 & 1.605 as targets.
USD/CHF
1st support - 0.8850 (minor)
1st resistance - 0.9735 (major)
2nd support - 0.8450 (moderate )
2nd resistance - 1.0240 (moderate)
USD/CHF (last 0.9418): The pair is posting a rebound but stands below its resistance at 0.9735. The 50-day moving average should now play a resistance role as well. Meanwhile, the RSI is around 50 and lacks upward momentum. Thus, as long as 0.9735 is not broken above, we favor SHORT positions below 0.9735 with targets @ 0.885 & 0.845 in extension. Above 0.9735, look for further upside with 1.024 & 1.064 as targets.
USD/CAD
1st support - 1.1680 (major)
1st resistance - 1.2750 (moderate)
2nd support - 1.1300 (minor )
2nd resistance - 1.3080 (minor)
USD/CAD (last 1.2553): The pair has broken above the upper boundary of a bullish channel and remains on the upside. The RSI is above its neutrality area at 50 lacking downward momentum. Thus, even though a continuation of the consolidation cannot be ruled out, its extent should be limited. We suggest LONG positions above 1.168 with targets @ 1.275 & 1.308 in extension. Below 1.168, look for further downside with 1.13 & 1.11 as targets.
TRADING Central (www.tradingcentral.com) is a commentary service specializing in technical analysis.
(The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING Central current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable. This is a financial news and information service. It is provided in general terms and does not take account of or address any individual user's position. To the extent that this article includes suggestions as to various possible investment strategies which users might consider, it does so in only general terms without reference to the personal factors which should determine any user's investment decisions. Nothing contained in this service constitutes personalized investment advice. Dow Jones does not warrant the accuracy, completeness or timeliness of the information in this article, and any errors shall not be made the basis for any claim against Dow Jones. The author does not invest in the instruments or markets cited in this article. This article does not constitute or form part of any invitation or inducement to buy or sell any security.)
(END) Dow Jones Newswires
February 22, 2015 22:05 ET (03:05 GMT)
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