Cabana Capitals Blog Forex Broker Forex pairs- major support and resistance levels.

Forex pairs- major support and resistance levels.

EUR/USD- The short term to intermediate term view remains bearish as long as pair is trading and sustaining below 1.1100 level. The 1.0900 level is like a make or break level, a valid breakout of this level will open the gate towards the 1.0750 and 1.0630 level in near term. Odds are in favour of bears. The 1.1020 can be considered as key resistance level followed by 1.1100 level.


GBP/USD- The Pair has become stable near to 1.2400 level it is unable to move above 1.2450 and the downside territory is 1.2350. The breakout on either side will give us new buy or sell signal. However the chances are high that we may see downside movement. Also, below 1.2200 level we will see a steep downfall and pair may test 1.2100 and 1.2000 level.


NZD/USD- The pair has covered almost 61.8% retracement level which is flashing downside signal and the expectations are very high with the bears once again as we know that primary and secondary trend is down and in a downtrend market always sell on rally will be profitable strategy and the current bounce seems as perfect time to sell. The next arrivals will be 1.5750 and clear closing below this level will take it to 1.5600 and 1.5500.


AUD/USD- The daily technical chart is also giving the bearish impression on the pair  and the way  it is trading on the chart it seems like only bears are leading in the game and they have taken some time to get more energy for further downfall the current short recovery rally also suggest us to have bearish view on the AUD/USD pair. The !.6200 is key resistance level followed by 1.6300 level whereas 1.5800 is next arrival and key support level followed by 1.5700 level in near term.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post