09-11-2019, 07:55 AM
Technical Overview of USD/JPY, USD/CHF and AUD/USD Currency Pair
USD JPY
USD traded higher against JPY and closed at 107.53.
· USD/JPY grinds higher to 107.67 from 107.54, nearing breakout
· May soon crack 107.71 top of daily Ichimoku Cloud on EBS
· Closing above that level marks bullish break, 200 DMA could be next
· ECB meet Thurs could derail EUR/JPY, though dovish outcome priced in
· US 10y yield lets off some steam after hitting 1.744%, last 1.713%
· Risk appetite rising with further global central bank easing expected
According to the Analysis, pair is expected to find support at 107.32 and a fall through could take it to the next support level of 107.21. The pair is expected to find its first resistance at 107.64 and a rise through could take it to the next resistance level of 107.75.
USD CHF
USD traded lower against CHF and closed at 0.9919.
· USD/CHF recently turned choppy inside a rising channel formation.
· 200-hour EMA adds to the pattern’s support.
The USD/CHF pair’s failure to rise past-0.9930/35 area, including early-month high, is less likely to portray its weakness unless breaking near-term support-line. The pair currently trades near 0.9920 by the press time heading into Wednesday’s European session.
According to the Analysis, pair is expected to find support at 0.9896 and a fall through could take it to the next support level of 0.9886. The pair is expected to find its first resistance at 0.9928, and a rise through could take it to the next resistance level of 0.9938.
AUD USD
· AUD/USD is losing altitude in response to a dismal Westpac Aussie consumer confidence data.
· Australian currency may remain under pressure due to deepening slowdown in China.
According to the Analysis, pair is expected to find support at 0.6850 and a fall through could take it to the next support level of 0.6845. The pair is expected to find its first resistance at 0.6868, and a rise through could take it to the next resistance level of 0.6873.
USD JPY
USD traded higher against JPY and closed at 107.53.
· USD/JPY grinds higher to 107.67 from 107.54, nearing breakout
· May soon crack 107.71 top of daily Ichimoku Cloud on EBS
· Closing above that level marks bullish break, 200 DMA could be next
· ECB meet Thurs could derail EUR/JPY, though dovish outcome priced in
· US 10y yield lets off some steam after hitting 1.744%, last 1.713%
· Risk appetite rising with further global central bank easing expected
According to the Analysis, pair is expected to find support at 107.32 and a fall through could take it to the next support level of 107.21. The pair is expected to find its first resistance at 107.64 and a rise through could take it to the next resistance level of 107.75.
USD CHF
USD traded lower against CHF and closed at 0.9919.
· USD/CHF recently turned choppy inside a rising channel formation.
· 200-hour EMA adds to the pattern’s support.
The USD/CHF pair’s failure to rise past-0.9930/35 area, including early-month high, is less likely to portray its weakness unless breaking near-term support-line. The pair currently trades near 0.9920 by the press time heading into Wednesday’s European session.
According to the Analysis, pair is expected to find support at 0.9896 and a fall through could take it to the next support level of 0.9886. The pair is expected to find its first resistance at 0.9928, and a rise through could take it to the next resistance level of 0.9938.
AUD USD
AUD traded higher against USD and closed at 0.6859.
· Australian currency may remain under pressure due to deepening slowdown in China.
According to the Analysis, pair is expected to find support at 0.6850 and a fall through could take it to the next support level of 0.6845. The pair is expected to find its first resistance at 0.6868, and a rise through could take it to the next resistance level of 0.6873.