OSB Daily Technical Analysis for October 29, 2014

EUR/USD rallied above the 20 DMA on Tuesday finding resistance at 1.2760. Additional resistance above at 1.2780-1.2800. A close above extends to top of recent range at 1.2835-40. Support at 1.2680-90.

EUR/GBP continued to flirt with the 0.79 handle failing to close above yet again. Sideways action likely until the pair manages to close above and make a decisive move above 0.7910-20. Neutral.

EUR/JPY rallied through the 50 and 200 DMA on Tuesday closing the near the highs of the day. Resistance above in the 137.85 area. Support in the 137.40-55 area. Bullish momentum pick up.

EUR/CHF positive day with a closing at 1.2060. The downward drift continues as the pair remains within this tight range.

GBP/USD pushed higher testing resistance at 1.6180. Close above the 20 DMA suggests new support in the 1.6080 region. Further resistance above at 1.6220-40.

USD/JPY made up some of the losses from the previous session managing to close above the 108.00 handle. Resistance above at 108.25. A close above extends to 108.50. Bullish.

USD/CAD sold off on Tuesday dropping below the 20 DMA and the 1.12 handle. Support at 1.1125 and further below at 1.11. Pair remains bullish with downswing likely to be short lived.

USD/CHF declined breaking below the 20 DMA and finding support at 0.9445. Correction from recent upswing likely to lead to bottom of recent range at 0.9420. Overall bullish bias remains intact.

AUD/USD rallied on Tuesday climbing above the 0.88 handle finding resistance at the 0.8880 area. Bullish momentum suggests pair is likely to retest this area as it attempts to climb above the 0.89 handle. A close above extends to 0.8925 at first instance. Support below at 0.88.

NZD/USD edged higher closing back above the 0.79 handle and finding resistance at 0.7955. Further resistance above at 0.7980 and 0.80. Pair in consolidation mode with little downside momentum for now. Overall long term bearish outlook remains.

NOTE

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