OSB Daily Technical Analysis for November 25, 2014

EUR/USD Jump higher on Monday closing on highs of the day. Resistance above at 1.2450 likely to cause some push back. Support below in the 1.2400, a break below extends downside move to 1.2385-65.

 

GBP/USD Positive day with an edge higher on the day. Pair remains is sideways market trading in a very tight range for 7 consecutive days. Support below at 1.5635-55 holding strong for now. A close below needed to open new down leg. Upside resistance in the 1.5700-25 band.

 

Consolidation and a close essentially unchanged on the day for the USDJPY. Pair finding support at 117.55 area. A break below likely to see a test of the 117.00 handle. Resistance is in the 118.30-50 band. A close above extends to recent highs.

 

USDCAD broke above the 1.13 handle which proved too resistive for now. Pair remains above the 50 DMA,1.1210 area, which is likely to act as a base for the pair. Any breaks below likely to cause bounces and increased volatility. Bullish

 

Brief rally followed by a correction and giveback of some of the early sessions gains for the EURCHF. Pair likely overrun and looking to consolidate at these higher levels. Support at 0.9640-60 area.

 

AUDUSD sold off testing the 0.86 level which is proving supportive for now. A break below is likely to see the pair head straight to recent lows in the 0.8540 area. A close below extends to 0.85. Pair ultimately looking very weak with more downside on the horizon.

NOTE

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