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. Look for reaction from here for an upside extension. Staying aside for now.
GBPUSD
The pair is breaking below the 1.2870 level and is reaching the 1.2550-1.2600 zone of the upside support. This support zone should hold for the pair to bounce and continue higher. Watching the price action here. No change in view.
USDCAD
The pair has bounced from the 1.3400 level of the uptrend support but it is locked in the consolidation 1.3400-1.3570 zone. The daily close above the 1.3570 level is required for an upside continuation. The daily close below the 1.3400 level could lead to a downside continuation.
AUDUSD
The pair is testing the 100 SMA 0.7560 level for an upside extension into 0.7660 level. The daily close below the 0.7520 level could lead to a pullback into the support 0.7450-0.7500 zone.
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. The daily close above the 0.7250 level could lead to an upside extension into 0.7350.
EURGBP
The pair has broken above the key level 0.8800 level for an upside extension. We have a pullback into this level for a retest of the broken resistance. Look for a possible long entry on the pullback into the 0.8750 level of support.
USDJPY
The pair is retesting the 200 SMA 110.470 level of a downside support. Only the daily close above the 111.500 could invalidate the downside. Look for the short trade entries for now with the SL above 111 level.
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.