Currency Zone

EUR/USD Intraday: key resistance at 1.1430.

Pivot: 1.1430

Our preference: short @ 1.1410 with targets @ 1.1380 & 1.1360 in extension.

Alternative scenario: above 1.1430 look for further upside with 1.1450 & 1.1475 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.1430.

 

USD/JPY Intraday: under pressure.

Pivot: 112.30

Our preference: short positions below 112.30 with targets at 111.80 & 111.60 in extension.

Alternative scenario: above 112.30 look for further upside with 112.50 & 112.75 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

 

GBP/USD Intraday: the downside prevails.

Pivot: 1.2930

Our preference: short positions below 1.2930 with targets at 1.2860 & 1.2820 in extension.

Alternative scenario: above 1.2930 look for further upside with 1.2970 & 1.3005 as targets.

Comment: a break below 1.2860 would trigger a drop towards 1.2820.

 

EUR/GBP Intraday: further upside.

Pivot: 0.8835

Our preference: long positions above 0.8835 with targets at 0.8875 & 0.8890 in extension.

Alternative scenario: below 0.8835 look for further downside with 0.8815 & 0.8800 as targets.

Comment: the RSI advocates for further advance.

 

USD/ZAR intraday: as long as 14.4570 is support look for 14.7700

Our pivot point is at 14.4570.

Our preference: as long as 14.4570 is support look for 14.7700.

Alternative scenario: the downside breakout of 14.4570 would call for 14.3430 and 14.2750.

Comment: the RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is below its 20 MA (14.5656) but above its 50 MA (14.4221).