AUD/USD:
The commodity currency fell sharply following FOMC announcements Wednesday, chalking up a 1.00% loss on the day. In one fell swoop, H4 price swept through orders at daily support drawn from 0.7151 (now acting resistance) and mildly surpassed 0.71 to bring in buyers off a 161.8% Fibonacci ext. point at 0.7092. Note the 161.8% Fibonacci extension forms...
CHFJPY is testing its support at 113.09 (100%, 61.8% Fibonacci extension, 50% Fibonacci retracement) where it could potentially bounce to its resistance at 113.74 (38.2% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its support at 4.6% where a corresponding bounce could occur.
AUDUSD bounced nicely off its support at 0.7159 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7240 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is bounced off its support at 1.7% where a corresponding rise could occur.
AUDCHF is testing its support at 0.7118 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7163 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 2.8% where a corresponding bounce could occur.
EURAUD is approaching its resistance at 1.5876 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 1.5750 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal may occur.
XAU/USD (Gold):
Although the price of gold advanced 0.30% Tuesday, much of the technical landscape remains unaffected.
Kicking things off from the weekly timeframe this morning, buyers appear in good health off swing resistance-turned support at 1236.6. Further buying from current price draws in resistance at 1260.8. What’s also interesting about 1260.8 from a...
Dow Jones Industrial Average:
Further selling transpired on Tuesday, pulling the market to losses of 0.55% on the day. Crude oil’s selloff was a major catalyst for the stock market's performance, overriding upbeat macroeconomic data out of the US revealing both housing starts and building permits rebounded in November following October's decline.
Although the...
USD/CAD:
Although the US dollar index continued to explore lower ground Tuesday, the USD/CAD enjoyed another day in the sun. Crude oil ended the session down a whopping 6.50%+, therefore weighing on the Canadian dollar while simultaneously bolstering the US dollar.
As is evident from the H4 timeframe this morning, the candles established support on a retest of...
AUDUSD is approaching its resistance at 0.7200 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.7105 (76.4% Fibonacci retracement, 100%, 61.8% fibonacci extension).
Stochastic (34, 5, 3) is approaching its resistance at 91% where a corresponding reversal may occur.
EURUSD is approaching its resistance at 1.1376 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 1.1337 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal may occur.
CADJPY is approaching its support at 83.84 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 84.59 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 2.3% where a corresponding bounce could occur.
USDCHF is approaching its support at 0.9909 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.9946 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 4.6% where a corresponding bounce could occur.
Dow Jones Industrial Average:
Pressured southbound by the prevailing risk-off mood, the Dow Jones Industrial Average concluded Monday’s segment down 1.49% open/close. Registering its second consecutive daily loss, weekly price recently crossed swords with support carved from 23578. Boasting reasonably sound historical significance, there’s a chance equities may...
USD/CHF:
USD/CHF sellers kicked off the week on a high note, forcing the H4 candles lower from December’s opening level priced in at 0.9977. The move was backed by broad-based USD selling and a flight-to-safety boosting demand for the Swiss Franc. For those who read Monday’s briefing you may recall the research team highlighted 0.9977 as a potential sell zone...
Kicking this market off from the top this morning, weekly supply at 1.3540-1.3387 (houses the 2017 yearly opening level within at 1.3434) remains in the fold. This, as you can probably see from the chart, is a notable supply zone that could eventually prove troublesome for buyers. A move lower from this point will likely target support coming in at...
AUDNZD is approaching its resistance at 1.0587 (61.8% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse down to its support at 1.0520 (50% Fibonacci retracement , horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 94% where a corresponding reversal may occur.
NZDJPY is approaching its support at 76.39 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 77.33 (50% & 38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 1.05% where a corresponding bounce could occur.
CADCHF is approaching its resistance at 0.7472 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially to reverse down to its support at 0.7416 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal may occur.
