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Technical Analysis
XtreamForex Daily Technical Analysis
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[QUOTE="xtreamforex26, post: 168145, member: 59158"] [B]Technical Overview of USD/JPY, NZD/USD and USD/CHF Currency Pair[/B] [B]USD JPY[/B] USD traded lower against JPY and closed at 105.6900. · USD/JPY: Bears staying in control in the Asian session. · USD/JPY4-hour chart: The pair is also at risk of extending its decline, USD/JPY has lost some ground as the yen takes up another bid while geopolitics keep the yen bulls in business ahead of a key week on the US calendar. According to the Analysis, pair is expected to find support at 105.3 and a fall through could take it to the next support level of 104.92. The pair is expected to find its first resistance at 106.04 and a rise through could take it to the next resistance level of 106.39. [B]NZD USD[/B] NZD traded lower against USD and closed at 0.6468. · NZD/USD jumps 20 pips on comments by New Zealand's Treasury that QE is less appealing. · Treasury feels RBNZ could cut rates to the negative territory if required. NZD/USD is recovering lost ground on comments by New Zealand's Treasury that asset purchases or quantitative easing (QE) are a less appealing tool of monetary easing. According to the Analysis, pair is expected to find support at 0.6402 and a fall through could take it to the next support level of 0.6359. The pair is expected to find its first resistance at 0.6478, and a rise through could take it to the next resistance level of 0.6512. [B]USD CHF[/B] USD traded lower against CHF and closed at 0.9727. · USD/CHF's 4-hour and daily charts are showing signs of seller exhaustion. · The pair could rise to the 10-day moving average resistance during the day ahead. USD/CHF could see a corrective bounce to the 10-day moving average (MA) of 1.0938 during the day ahead as technical charts are flashing early signs of a bearish-to-bullish trend change. According to the Analysis, pair is expected to find support at 0.9703 and a fall through could take it to the next support level of 0.9680. The pair is expected to find its first resistance at 0.9755, and a rise through could take it to the next resistance level of 0.9784. [/QUOTE]
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