OSB Daily Technical Analysis for December 30, 2014

EURUSD tried to rally in the early session falling short at 1.2220 resistance level only to fall back into negative territory breaking through previous low to find resistance at 1.2142. Support further below at 1.2134 which is the August 2012 low. A break below this extends to 1.21.

 

Negative session for the GBPUSD after an attempt to rally back to the 1.56 area falling short at 1.5585. On the downside support currently holds at 1.5500. A break below here extends to recent low and potentially opens the space for a move to August 2013 lows at 1.5425. Market remains strongly bearish.

 

USDJPY edged higher on the day managing get closer to 121.85 resistance which needs to be cleared for the pair to have any chance for a breaking past the 1.22 handle. On the downside a break below 119.97 triggers a correction potentially extending to 119.70-85. Market strongly bullish.

 

USDCAD on consolidation phase on the Monday going back and forth and closing essentially unchanged on the day. Sideways price action likely to continue as market remaining in the 1.1600-1.1650 band. A break out of this band and the recent high extends to the 1.17 handle.

 

USDCHF edged higher on Monday making a new yearly high on the day which suggests further upside in the USDCHF pair. Current upswing extends to 0.9920 resistance. Strongly bullish with any corrections likely to be short lived.

 

AUDUSD did very little on Monday but managed to etch up some small gains as trade books are closing down for the year. Consolidation and some sideways action for the Aussie $. A break below 0.81 and the recent low signals new down leg back in play with the bears in control.

 

 

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