Forex Majors technical analysis EURUSD, GBPUSD, USDCAD, AUDUSD, NZDUSD, EURGBP, USDJPY
EURUSD
The pair is supported by 1.11500-1.12000 zone for an upside continuation into 1.13000-1.14000 zone. Only long trade entries are recommended. SL should be below the support 1.11500 level. No change in view.
GBPUSD
The pair is bouncing from the 1.2600-1.2700 support zone and this bounce could lead to a continuation into 1.3180 level. The daily close below this level could lead to a test of 1.2600 level near-term.
USDCAD
The pair has been rejected by the 1.3560 level and is continuing to the support 1.3400 level. The daily close below this level could lead to an extension into the key downside resistance 1.3300 level.
AUDUSD
The pair has broken above the falling wedge and has bounced again from the strong 0.7360-0.7380 support zone. We need to see a daily close above the 0.7480 level for the upside continuation.
NZDUSD is breaking above the 200 SMA 0.7100 level for the upside continuation into 0.7250 level. The support zone is 0.7050-0.7100.
EURGBP
The pair is breaking above the 0.8600 level for the upside extension into 0.8750 level. The daily close above this level is required for the continuation higher. Look for the long entries only on the clear break of 0.8750 or on a pullback to 0.8700 level.
USDJPY
The pair is testing the 200 SMA 110.340 level. The daily close below this level could lead to a downside extension into 108 level. The bounce from here could lead to a 100 SMA 112.230 level retest.
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.