Forex Majors technical analysis EURUSD, GBPUSD, USDCAD, AUDUSD, NZDUSD, EURGBP, USDJPY
EURUSD
The pair has been rejected from the 1.10000 level. The pullback led to a retest of 200 SMA 1.08230 level. The daily close below this level will open the 1.06800-1.07200 zone. The bounce from this level is required for the upside continuation into 1.10000 level again.
GBPUSD
The pair is in the process of breaking above the strong upside resistance 1.2900 level for the test of 1.3000 level. Staying aside for now. If long entries are initiated place the SL below 1.2800 level.
USDCAD
The pair is rejected from 1.3800 level and is testing the 1.3650 level of support. The bounce from here is possible for a retest of 1.3750 level but overall the pair is reversing to the downside for the test of broken upside resistance 1.3450-1.3500 zone. No change in view.
AUDUSD
The pair is in the falling wedge (usually bullish) and is testing the 61.8% of the Fibo retracement of the latest upside swing 0.7385 level. The bounce from this zone would lead to a retest of the upper wedge line 0.7460 level. Only long trade entries are recommended here with the SL below 0.7320 level.
NZDUSD is bouncing from the strong support 0.6850 level but for the reversal to the upside and continuation, we need to see the daily close above 0.7000 level. Staying aside for now. SL on long entries if initiated here should be below 0.6850 level.
EURGBP
The pair has broken below the strong downside resistance 0.8450-0.8480 zone and this is opening the downside continuation into 0.8000-0.8100 zone. We need to see a clear daily close for the downside continuation. Short entries on a possible pullback into 0.8450 level. We have a pullback into 0.8480 level. Look now for short entries with SL above 0.8550. No change in view.
USDJPY
The close above the 113 level also the 100 SMA is taking the pair to an upside extension but we need to see a daily close above 114.200 level. The pullback in progress could lead to an 112.800-113 zone.
USD correction is on a way. We need to see the reaction from this levels for the continuation higher or we will see downside continuation.