NZDUSD
Res: 0.7936/0.7973/0.8004
Sup: 0.7890/0.7860/0.7831
Following the push back up inside the previous weeks trading range we have NZDUSD closing with a spinning top in the daily charts while stochastic is pushing for overbought levels and macd bottoming out. From the 4H picture we have a new confluence of buys with stochastic just crossing up to join a bullish macd. Hourly indicators are mixed as macd come out of overbought levels. Given we have reentered a previous trading range we prefer playing within its boundaries look for buys from just above 0.7890 for a test of 0.7936 then on to key resistances at 0.7973.

AUDUSD
Res: 1.0672/1.0714/1.0748
Sup: 1.0632/1.0580/1.0538
We find AUDUSD just under the 21D EMA with Thursday’s attempts at pushing any higher thwarted. Among the indicators AUDUSD is actually inside the EMA lines while stochastic is pushing for overbought levels and macd bottoming out. In intraday charts we have a confluence of buys from the 4H macd and stochastic while hourly indicators see macd topping off and stochastic coming out of over bought levels. For now we prefer remaining sidelined though a dip to the 1.0580 region may be considered as a buy.

USDJPY
Res: 81.83/82.28/82.72
Sup: 81.50/81.02/80.71
Despite an intraday foray above the 55D EMA line we closed inside the daily EMA with a high wave spinning top. Daily stochastic is now crossing lower though the macd remains bullish. From the 4H picture we have macd topping off while stochastic is heading for oversold levels. Hourly indicators see a confluence of bears with stochastic coming off overbought areas. Immediate risk appears to be for a pullback break of 81.50 triggers an SHS though given the pattern of higher highs and higher lows, we prefer looking for the latter as a buy area.

GBPUSD
Res: 1.6238/1.6271/1.6323
Sup: 1.6191/1.6138/1.6085
Thursday saw a bullish close for Cable though prices are inside the previous days range. Daily indicators are mixed with stochastic going up and macd heading lower in line with the EMAs acting a a top. In 4H charts the pattern of lower highs and lower lows is even more evident as we see prices in the EMA lines though indicator show an overbought stochastic and bullish macd. Hourly indicators show macd topping off while stochastic comes out of overbought levels. For now we think of GBPUSD as in a range play consider shorts from just under 1.6238 for 1.6194 possibly 1.6138.

EURUSD
Res: 1.4325/1.4357(67)/1.4424
Sup: 1.4286/1.4228/1.4194
Thursday’s close managed to invalidate the prior spinning top suggesting further gains are to be expected though we have strong resistances around the daily EMA levels. Daily stochastic is overbought while macd is pushing higher. Intraday we see a confluence of buys from the 4H macd and stochastic while hourly charts see stochastic coming out of overbought levels while macd is topping off. Note we continue to have a series of higher lows and higher highs in the hourly with a big enough room before the daily EMA’s at 1.4357(67). Consider a buy on dips approach from the 1.4254 and 1.4286 region.

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