OSB Daily Technical Analysis for September 26, 2014

EUR/USD sell off continued. Price dip below 1.2700 briefly touching two year lows. Ultra bearish for the pair. A close below this level extends price to support 1.26950-60. Downside momentum picking up.

EUR/GBP broke below 0.78 handle only to find support and close just above. Some support at 0.7810 and below that at 0.7780-85 at first instance. Currently at July 2012 lows. Bearish bias strengthening.

EUR/JPY Sell-off below the 20 DMA for the EURJPY pair on Thursday. Support at 138.45 and 138.30 further below. Bounce back likely following recent down swing. A close below support levels extends price to a test of the 138.00 handle. Upside resistance 139.25.

EUR/CHF back below the 20 DMA. Grinding at this level is likely as pair remains directionless and hovers between 1.2065-1.2105. Neutral.

GBP/USD Negative day for the GBPUSD as the pair got back in line with its longer term trend and moved lower dipping below 1.63 intraday. Support at 1.6275 and more importantly at 1.6250 which is likely to be tested during this down leg.

USD/JPY Consolidation at higher levels for the USDJPY. Rally back above 109.00 handle intraday finding resistance just below the 109.40 area. Support at 108.50. Bullish bias remains with consolidation in progress.

USD/CAD headed higher from the open and managed to close above 1.11 handle on Thursday. Positive action for the pair. Resistance at 1.1125-35 area likely to be pushed through as pair digests recent upswing and prepares for higher prints. Bullish.

USD/CHF Bullish day and rally above 0.95 handle for the USDCHF. Resistance pushed the pair at the 0.9515. Support at 0.9430-50 level. Candle suggests more work needed prior to making a sustainable move above 0.95. Bullish.

AUD/USD Back in line with dominant downtrend for AUDUSD which broke below 0.88 handle and found support at 0.8770 area. Bearish with support further below at 0.8740-50. Market currently in sell only mode with 0.85 handle a possible target in the medium term.

NZD/USD Big sell-off in NZDUSD pair losing close to 150 pips slicing through support levels. No buyers to be found in the NZDUSD market and lower prints coming as a matter of fact. Ultra bearish

 

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