Weekly Technical Foreign Exchange Outlook

London (TRADING Central)--Rolling 24-hour chart levels:
Forex spot: EUR/USD USD/JPY GBP/USD USD/CHF
Spot 0545 GMT 1.4769 90.00 1.6461 1.0220
3 Day Trend Bullish Bearish Bullish Bearish
Weekly Trend Bullish Bearish Bullish Bearish
200 day ma 1.4384 93.08 1.6366 1.0556
3rd Resistance 1.4925 90.85 1.6605 1.0300
2nd Resistance 1.4860 90.60 1.6565 1.0280
1st Resistance 1.4820 90.40 1.6500 1.0250
Pivot* 1.4745 89.81 1.6428 1.0237
1st Support 1.4715 89.65 1.6400 1.0200
2nd Support 1.4675 89.40 1.6350 1.0160
3rd Support 1.4645 88.90 1.6310 1.0135

Intraday EUR/USD: the RSI is well directed; the pair has rebounded on its support and should reach its next resistance. Suggest long positions above 1.4715 with targets at 1.482 and 1.486. The downside penetration of 1.4715 will call for 1.4675 and 1.4645. Weekly chart EUR/USD trend: Bullish
Intraday USD/JPY: the pair remains capped by its resistance, the RSI is mixed to bearish. Suggest short positions below 90.4 with 89.65 and 89.4 as next targets. The upside breakout of 90.4 will open the way to 90.6 and 90.85.
Weekly chart USD/JPY trend: Bearish
Intraday GBP/USD: the pair is rebounding on its support and is challenging its resistance, the RSI is on the upside. Suggest long positions above 1.64 with 1.65 and 1.6565 as next targets. The downside breakout of 1.64 will open the way to 1.635 and 1.631. Weekly chart GBP/USD trend: Bullish
Intraday USD/CHF: the RSI has broken below its rising trend line, the pair is on the downside and is approaching its support. Suggest short at 1.025 with targets at 1.02 and 1.016 in extension. Above 1.025 look for further upside with 1.028 and 1.03 as targets. Weekly chart USD/CHF trend: Bearish

Forex spot: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot 0545 GMT 0.8973 132.91 1.5094 0.9050
3 Day Trend Bearish Bullish Bullish Bearish
Weekly Trend Bearish Bullish Bullish Bearish
200 day ma 0.8791 133.83 1.5173 0.8468
3rd Resistance 0.9070 135.25 1.5165 0.9150
2nd Resistance 0.9025 134.75 1.5135 0.9135
1st Resistance 0.8993 133.90 1.5120 0.9093
Pivot* 0.8974 132.38 1.5095 0.9003
1st Support 0.8935 132.50 1.5080 0.9010
2nd Support 0.8910 131.80 1.5070 0.8943
3rd Support 0.8845 131.30 1.5050 0.8865

Intraday EUR/GBP: the pair remains below its resistance, the RSI is mixed to bearish. Suggest short positions below 0.8993 with targets at 0.8935 and 0.891 in extension. Above 0.8993 look for further upside with 0.9025 and 0.907 as targets. Weekly chart EUR/GBP trend: Bearish
Intraday EUR/JPY: the RSI lacks upward momentum, the pair is rebounding but should be capped by its next resistance. Suggest short at 133.82 with targets at 132.5 and 131.8 in extension. Above 133.9 look for further upside with 134.75 and 135.25 as targets. Weekly chart EUR/JPY trend: Bullish
Intraday EUR/CHF: the pair is under pressure and is challenging its support,the RSI is mixed to bearish. Suggest short at 1.5112 with targets at 1.508 and 1.507 in extension. Above 1.512 look for further upside with 1.5135 and 1.5165
as targets. Weekly chart EUR/CHF trend: Bullish
Intraday AUD/USD: the RSI broke above a bearish trend line. Suggest long positions above 0.901 with targets at 0.9093 and 0.9135 in extension. Below 0.901 look for further downside with 0.8943 and 0.8865 as targets. Weekly chart AUD/USD trend: Bearish
* The pivot is the sum of the high, low and close divided by 3.

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