OSB Daily Technical Analysis for October 14, 2014

EUR/USD rally to 1.2760 resistance level and close just below the 20 DMA. Further resistance above at 1.2775. A close above this level extends to the 1.2825 area. Bearish consolidation with some range bound action.

EUR/GBP Strong up day for the EUR/GBP on Monday breaking above both the 20 and 50 DMA’s. Bullish momentum likely to extend to resistance at 0.7950 and a possible test of 0.80 handle.

EUR/JPY found support at the 135.50 area and bounced back to close the day above the 136.00 handle. Resistance above at 136.80. Pair remains bearish and likely to consolidate at these levels.

EUR/CHF bulls and bears tugged at the pair throughout the day essentially settling nothing. Pair remains in a bearish consolidation mode. Support below at 1.2070 and resistance above at 1.2090.

GBP/USD closed slightly higher for the day. Pair in a consolidation phase and likely to hover around the 1.60 area prior to finding direction. A close below the 1.60 level extends to back down to recent lows of 1.5954.

USD/JPY continued to break down and cut through the 106 level on Monday. Recent weakness suggests the pair might have more downside in the immediate term. Support below in the 106.60 area. Pair starting to look somewhat bearish.

USD/CAD Positive day for the USD/CAD which continues to gather strength and build some upside momentum. Support below at 1.1175 and resistance above at 1.12. A close above 1.12 extends to recent highs.

USD/CHF sold off on Monday closing below the 20 DMA at 0.9482. This area is supportive and likely to engage both buyers and sellers are s the pair looks to consolidate around here. Resistance above at 0.95. Correction and consolidation from recent upswing likely to continue.

AUD/USD bounced back on Monday breaking above the 0.87 handle. Upside momentum likely to see the pair testing resistance at 0.88 handle. Up-swing likely to be short lived as pair remains significantly bearish.

NZD/USD buyers stepped in to push the pair higher on Monday. Resistance above at 0.79, support below at 0.7825. Bearish.

 

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