OSB Daily Technical Analysis for November 14, 2014

EUR/USD failed again to climb back above 1.25 resistance. A close above this level is needed give bulls a chance to regain some upside momentum. More consolidation likely. A close below support at the 1.2415 area extends price action to recent lows at 1.2350 and further below to 1.2250 area over the mid-term. Bearish.

EUR/GBP Bullish day and clean break above the 50 DMA for the EURGBP breaking through the 0.79 handle with ease. Strong buying interest likely to see pair finding resistance at 0.7950. Some consolidation and pull back at these levels is likely. Bullish momentum on the rise.

EUR/JPY Rally in the EURJPY making back losses from previous session and managing to get back above the 144.00 handle. Resistance above at 144.60. A close above extends price to 145.00 handle in the short term and to the 145.50-80 area over the mid-term. Bullish.

EUR/CHF is coming very close to the 1.20 floor making a low of 1.2015 on Thursday. Pair looks almost certain to test support at the big round 1.20 mark. SNB likely to step in at this level and keep the market a hairline above this key area. Sideways action very likely. Neutral.

GBP/USD Bearish day with strong sell off continuing in the GBPUSD. Support at 1.5690 held uptight with the pair closing just above 1.57. Further support below at 1.5665. Consolidation likely after the sharp sell off during last two sessions. Bearish bias remains intact.

USD/JPY consolidation day with little by the way of gains or losses for the pair. Market appears to be taking a pause in the 115.70 area prior to making a push for the 116.00 area. Support below at 115.175. Strongly bullish with more upside to come.

USD/CAD bounced off the 20 DMA support at 1.1298 to rally and close at 1.1365. Test of resistance intraday at 1.1390 proved too strong for now. A close above the 1.14 candle extends to recent highs at 1.1455. Pair well supported at 1.1300-20. Bullish.

USD/CHF Bearish day with sideways trading for the USDCHF. A break above the 0.97 handle extends price to recent high in the 0.9740 area. On the downside a close below 0.9620 see the decline into support at 0.9575. Neutral.

AUD/USD Classic spinning top candle formation for the AUDUSD suggesting indecisiveness in the market about further direction in the pair. Market likely to consolidate at in the 0.8700-40 area as it looks for direction. Resistance at 0.8765 with support below at 0.8655-65. Neutral short term bias with longer term bearish bias remaining unchanged.

NZD/USD Indecision in the further direction of the NZDUSD forming a long legged doji candle. The pair appears to want to go higher but bears are still very much there to keep price in check. Resistance at 0.7925 and higher above at 0.7950 are the next levels the pair needs to clear if it going to have a fighting chance. Support at 0.78 handle.

NOTE
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