The pick of the day is Kiwi, forex geek name the New Zealand dollar as he dances against Ms. USA. Kiwi has been making some delicious moves working it to reach a previous top from 2011 at 0.8845 which is by the way the highest the pair has ever got on the forex dance floor in the history of Kiwi.
On the daily dance floor [IMG 2] the pair remains above the Ichimoku cloud with the Tenkan line crossing above the Kijun line. The RSI is well directed above its neutrality area. The pair pulled back yesterday after teasing to break above the recent top at 0.8742 and it’s approaching the 23% Fibonacci level but we could see more gains in the coming days with targets are set at 0.8840 and 0.90 in extension. Now if Kiwi suddenly loses his juicy up-moves and breaks below 0.8390, that will turn the outlook to bearish with a first alternative target set at 0.8240 and a second one at previous bottom at 0.8050.
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Intraday Forex Technical Levels
EUR/USD Intraday: the upside prevails
Our preference: Long positions above 1.3915 with targets @ 1.3975 & 1.401 in extension.
Alternative scenario: Below 1.3915 look for further downside with 1.39 & 1.3885 as targets.
Comment: The pair has validated a bullish flag and should post further advance.
Supports and resistances:
1.4035
1.401
1.3975
1.3958 Last
1.3915
1.39
1.3885
GBP/USD Intraday: under pressure
Our preference: Short positions below 1.698 with targets @ 1.694 & 1.692 in extension.
Alternative scenario: Above 1.698 look for further upside with 1.7 & 1.703 as targets.
Comment: The pair stands within a bearish channel.
Supports and resistances:
1.703
1.7
1.698
1.6965 Last
1.694
1.692
1.6895
USD/JPY Intraday: the upside prevails
Our preference: Long positions above 101.5 with targets @ 102 & 102.2 in extension.
Alternative scenario: Below 101.5 look for further downside with 101.3 & 101.05 as targets.
Comment: The pair has broken above a bearish trend line.
Supports and resistances:
102.5
102.2
102
101.779 Last
101.5
101.3
101.05
USD/CHF Intraday: bullish bias above 0.873
Our preference: Long positions above 0.873 with targets @ 0.8765 & 0.878 in extension.
Alternative scenario: Below 0.873 look for further downside with 0.8715 & 0.87 as targets.
Comment: The pair is pulling back on its support.
Supports and resistances:
0.88
0.878
0.8765
0.8739 Last
0.873
0.8715
0.87
NZD/USD Intraday: under pressure |
Our preference: Short positions below 0.8685 with targets @ 0.863 & 0.8595 in extension.
Alternative scenario: Above 0.8685 look for further upside with 0.8745 & 0.878 as targets.
Comment: The RSI is bearish and calls for further decline.
Supports and resistances:
0.878
0.8745
0.8685
0.8656 Last
0.863
0.8595
0.8545
AUD/USD Intraday: further upside
Our preference: Long positions above 0.931 with targets @ 0.94 & 0.9425 in extension.
Alternative scenario: Below 0.931 look for further downside with 0.925 & 0.92 as targets.
Comment: The RSI is bullish and calls for further advance. Prices broke above a bearish trend line.
Supports and resistances:
0.946
0.9425
0.94
0.9386 Last
0.931
0.925
0.92
