OSB Daily Technical Analysis for November 27, 2014

EURUSD edged higher after making a brief dip below the 1.25 handle. Market appears to be looking for a further push higher with next resistance in the 1.2555-95 area. Support below at in the 1.2475-85 band likely to limit downside.

GBP/USD Strong push towards 20 DMA breaking above the 1.5750 resistance level. Strong resistance in the at the 1.5800 handle. A push back and close below retains bearish shorter term outlook whereas a clean close above extends price to 1.5820-40.

USDJPY continues to correct and consolidate. A break below 117.50 handle extends to support at 117.05. Pair likely to remain in tight range bound market as markets slow down over the next couple of days.

Early session rally and push towards the 1.13 handle faltered as bears stepped in pushing the pair closer to the 1.12 area. Pair does not look ready to make a break above this area at the moment and is likely to consolidate within the 1.12-1.13 band.

Sell-off and for the USDCHF making a low at 0.9595 on Wednesday. Support in the 0.958070 area holding for now and likely to cause some push back and a bounce. On the upside resistance is in the 0.9660 area. Pair looking somewhat bearish in the short term.

AUDUSD pushed back after making a new monthly low during intraday trading. Resistance in the 0.8450 area appears to be holding the pair for now. A close below extends to 0.84 handle and resumes new down leg.

NOTE

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We are currently working to develop proprietary tools to add to our daily reports and will be rolling those out in due course. The analyst preparing our charts, a long time student of the market, offers his general guidelines about the markets and trading to bear in mind while reviewing the charts.

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