USD/CHF:
The US dollar continued to press higher against its Swiss counterpart Monday, recording its fifth consecutive daily gain. Despite the impressive run of late, upside is likely to experience some resistance.
December’s opening level at 0.9977 on the H4 scale is holding the unit lower as we write. This level is planted just south of parity (1.0000), which...
USDCAD is approaching its resistance at 1.3282 (61.8% Fibonacci extension, 61.8%, Fibonacci retracement, Horizontal swing high resistance) where it may reverse down to its support at 1.3234 (Horizontal swing low suppor).
Stochastic (55, 5, 3) is approaching its resistance at 93% where a corresponding reversal may occur.
EURNZD is approaching its resistance at 1.6922 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it may reverse down to its support at 1.6885 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal may occur.
USDJPY is approaching its support at 109.07 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 109.84 (horizontal swing high resistance).
Stochastic (21, 5, 3) is approaching its support at 7.6% where a corresponding bounce could occur.
NZDUSD is approaching its support at 0.6714 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.6780 (50% Fibonacci retracement, horizontal swing high resistance).
EURCAD bounced off support at 1.5095 (100% Fibonacci extension , 61.8% Fibonacci retracement , horizontal swing low support) where it could potentially rise further to its resistance at 1.5304 (38.2% Fibonacci retracement , horizontal swing high resistance).
Stochastic (55, 5, 3) bounced off its support at 1.8% where a further rise could occur.
EURJPY is approaching resistance at 125.01 (50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 122.00 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
AUDCAD is approaching resistance at 0.9576 (61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 0.9509 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
AUDJPY is approaching its resistance at 78.84 (61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 75.79 (38.2% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
AUDCHF is testing its resistance at 0.7129 (61.8% Fibonacci extension , 61.8 % Fibonacci retracement , horizontal overlap resistance) where a reversal to its support at 0.6970 (38.2% Fibonacci retracement , horizontal swing low support) may occur.
Stochastic (55, 5, 3) has reversed off its resistance at 98% where a corresponding drop may occur.
EURAUD is approaching its resistance at 1.5981 (100% Fibonacci extension, 23.6% & 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.5877 (61.8% Fibonacci retracement, horizontal overlap support).
NZDUSD is approaching its support at 0.6714 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.6797 (61.8% Fibonacci retracement, horizontal pullback resistance).
EURNZD is approaching its resistance at 1.6886 (100% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.6770 (61.8% Fibonacci retracement, horizontal overlap support).
USDCHF is approaching its resistance at 0.9887 (61.8% Fibonacci extension , 61.8% Fibonacci retracement , Horizontal swing high resistance) where it may reverse down to its support at 0.98375 (100% Fibonacci extension , 61.8% Fibonacci retracement , Horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding...
EURCAD is approaching its support at 1.5095 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.5304 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 1.8% where a corresponding bounce could occur.
AUDPY is approaching its resistance at 78.79 (23.6% & 61.8% Fibonacci retracement , horizontal pullback resistance) where it could reverse down to its support at 75.75 (38.2% Fibonacci retracement , horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal may occur.
GBPJPY is approaching its resistance at 140.20 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it may reverse down to its support at 136.89 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal may occur.
EUR/USD:
A combination of broad-based USD bidding and ECB President Draghi highlighting recent economic developments have been weaker than forecasts, weighed on the single currency Tuesday. Down 0.48% on the day, the EUR/USD’s H4 candles broke through and retested January’s opening level at 1.1445 as resistance, and eventually whipsawed through 1.14 into the...
