OSB Daily Technical Analysis for October 27, 2014

EUR/USD Positive day consolidating just below the 1.27 handle on Friday. EURUSD looking to push above resistance and reach out to 1.2725-50 above the 20 DMA. A close above likely extends upswing recent highs in the 1.28 area. Support below at 1.2630-50 region.

EUR/GBP Negative day for EURGBP which drifted lower after hitting resistance at 0.79 which is proving to be a strong barrier. Pair likely to hover in this area and retest resistance prior to finding direction on either side. Neutral.

EUR/JPY managed to close above 137.00 following an intraday dip to support level at 136.50. Pair remains in a somewhat consolidative mode looking to push higher. Resistance above in the 137.35-55 region. Neutral.

EUR/CHF More range bound, consolidative action from the EURCHF which continues to drift lower. Support below at 1.2055 with resistance at 1.2075.

GBP/USD rallied on Friday testing for resistance at the 1.61 handle. Pair is looking to push higher. A close above 1.61 extends upswing to 1.6160 which is at the top of the recent range.

USD/JPY correction on Friday following previous sessions rally. Support below at 107.75-80. Resistance above at 108.15-25. A close below 108.00 might see downswing extending to 107.50-60.

USD/CAD sold off in the early session with a dip below 1.12 which proved to be supportive enough to climb back above and close essentially unchanged for the day forming a hammer. Friday’s action suggests some consolidation with range bound activity at least for now. A close above 1.1250 likely extends upswing to recent highs in the 1.13 region.

USD/CHF Lower close for the USDCHF on Friday which found support at the 0.95 handle following an intraday dip below. Pair in consolidation and likely to remain range bound for now. A close below 0.95 and the 20 DMA extends to 0.9420.

AUD/USD pushed higher testing resistance at the 20 DMA which is the key 0.88 handle. The pair did not manage to close above this area but is likely to retest this key level. Further resistance above at 0.8835-40. Pair in range bound, consolidative mode.

NZD/USD edged higher on Friday after finding support at the 0.78 handle. Pail looking to bounce higher if it can close above resistance at 0.7880. Range bound. A close below 0.7780 extends to recent lows.

NOTE

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