Given the EURUSD’s extended downturn beneath 1.1300-1.1285 support-area, comprising 200-week SMA, the pair is likely to avail the 1.1120 and the 1.1020 rest-points prior to meeting the 1.1000 round-figure. In case the pair continue trading southwards past-1.1000, the 1.0835-25 and the 1.0770 may entertain the Bears. Alternatively, a D1 close beyond 1.1300 can trigger the pair’s recovery targeting the 1.1360 and the 1.1430 immediate barriers ahead of confronting the 1.1500-1.1510 resistance-area. During the pair’s successful rise above 1.1510, the 1.1580 and the 1.1610 could offer intermediate halts in course of rally towards 1.1650 trend-line.
Even after taking a U-turn from 1.2840-35 support-zone, the GBPUSD needs to surpass the 1.2920-25 resistance-region in order to justify its strength to claim the 1.2950 and the 1.3000 upside numbers. Though, pair’s rally after 1.3000 can help it challenge the 1.3040 and the 1.3080 levels whereas the 1.3130 and the 1.3165 resistance-line might confine the quote’s following advances. Meanwhile, pair’s dip below 1.2835 may not hesitate fetching prices to 1.2780 and then to 1.2715 before highlighting 1.2690 mark. Moreover, pair’s refrain to respect 1.2690 support can flash the 1.2660 and the 1.2600 on sellers’ radar.
USDJPY manages to hold its 113.50-55 breakout, which in-turn favors the pair’s rise to 114.40-50 horizontal-resistance but overbought RSI might play its role around there, failing to which could recall 114.75 on the chart. Given the pair stretches north-run beyond 114.75, the 61.8% FE level of 115.30 can become its next landmark to achieve. If at all there appears daily closing below 113.50, the 113.10 and the upward slanting TL, at 112.55, could gain market attention. Assuming the pair’s decline after 112.55, the 100-day SMA level of 111.90 and the 111.30 may please the pessimists.
Having bounced off the 0.6700, the NZDUSD should conquer the 0.6770 and the 0.6800 resistances so that it can push buyers to 0.6850-55 resistance-zone. In case prices keep rallying above 0.6855, the 200-day SMA level of 0.6895 and the 0.6950 could raise bars for Bulls riding in direction to 0.7000 psychological mark. On the downside, 0.6700 and the 0.6650, including 100-day SMA, can restrict the pair’s near-term declines, breaking which 0.6600 and the 50-day SMA level of 0.6585 may come forward as supports. Should the quote fall short of ability to reverse from 0.6585, the 0.6540, the 0.6510 and the 0.6500-0.6490 region may try limiting the pair’s plunge towards recent low around 0.6420.
This article was originally posted on FX Empire
More From FXEMPIRE:
- E-mini Dow Jones Industrial Average (YM) Futures Analysis – Playing 50% Levels Today at 25526 and 25177
- AUD/USD Price Forecast – Australian dollar bounces slightly on Tuesday
- Crude Oil Price Forecast – crude oil markets collapse
- NZD/USD Bounce Towards 0.6835 is Expected
- S&P 500 Price Forecast – stock markets bounced softly
- EUR/USD Mid-Session Technical Analysis for November 13, 2018