OSB Daily Technical Analysis for September 12, 2014

EUR/USD Mixed day and consolidation for the EURUSD on Thursday which appears to be developing a base within this tight range. Strong resistance at 1.2965 and more significantly at 1.30. A close below 1.2850 extends to 1.28 support.

EUR/GBP Drop and close below the 20 DMA and recent support levels. Further support at 0.7940-50 and resistance at 0.7980 open market to additional moves to either side for now. Market biased for upswing after recent down days.

EUR/JPY Solid up day for EURJPY moving above 138.00 handle into resistance area and closing at 138.295. A close above 138.55 extends upside move to 140.00. Support at 200DMA.

EUR/CHF Down day finding support at 1.2090. Range bound with strong resistance above at 1.21. A close above extends recent upswing. Support at 1.2070-80. Neutral and range bound.

GBP/USD Bullish day with upswing almost filling the gap from earlier in the week closing below resistance at 1.6273. A close above 1.63 allows more upside potential. Support at 1.6205-15.

USD/JPY Move higher for USDJPY with a close above 107.00. Up move likely to extend higher from here. Resistance at 107.50.

USD/CAD Breakout and close above 1.10. Significant for the pair and opens market to higher prints. Resistance above at 1080-90. Bullish. Support at 1098 area.

USD/CHF Failure to extend above the 0.9380 resistance for USDCHF. Correction and consolidation at this level. Support at 0.9320.

AUD/USD found support at 0.91 handle after rallying through the 0.92 resistance level. Yesterdays action is bearish for the pair and suggests further downside and weakness. Support in the 0.9040 area with 0.90 now becoming a realistic target.

NZD/USD found support at 0.8160 level following failure to remain above the 0.82 handle. Weakness in the NZD likely to extend prices lower. Short term support at 0.8140-50 likely to see the pair heading to 0.81.

 

NOTE

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