AUDJPY is approaching its resistance at 75.42 (100% & 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 74.98 (horizontal swing low support).
NZDUSD is approaching its resistance at 0.6558 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 0.6527 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
XAGUSD is approaching its resistance at 14.64 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 14.45 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 90% where a corresponding reversal is expected.
AUDUSD is approaching its resistance at 0.6965 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.6937 (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reversal is expected.
GBP/USD:
Largely emulating EUR/USD movement, the GBP/USD engulfed a H4 support area at 1.2606-1.2646 and confronted 1.26 as price headed into Thursday’s close.
In Thursday’s morning brief, the piece highlighted the following (potential) scenario:
Although some traders are likely looking to buy within the H4 support area at 1.2606-1.2646, given it has a...
NZDJPY is approaching its support at 70.99 (61.8% Fibonacci extension, 78.6% Fibonacci retracement) where it could potentially bounce to its resistance at 73.14 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 1.8% where a corresponding bounce could occur.
XAUUSD is approaching its support at 1267.64 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1285.80 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.6% where a corresponding bounce could occur.
CADJPY is approaching its resistance at 81.59 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 81.15 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.
USD/CAD:
The USD/CAD preserved a strong bid Wednesday, surging through 1.35 to fresh multi-month tops at 1.3546. The Canadian Dollar remained on the defensive after the Bank of Canada (BoC) decided to leave benchmark interest rates unchanged at 1.75%.
Since the latter part of April, the H4 candles have been busy carving out a 100-point+ range between May’s...
AUDNZD is approaching its resistance at 1.0597 (100% & 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 1.0575 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal is expected.
AXY is approaching its resistance at 7.0081 (100% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 6.9768 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal is expected.
AUDCAD is approaching its resistance at 0.9370 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.9321 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
USDCAD is approaching its resistance at 1.3522 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 1.3452 (76.4% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal is expected.
AUDCAD is approaching its resistance at 0.9327 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.9274 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reversal is expected.
EURCAD is approaching its support at 1.4989 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.5078 (50% Fibonacci retracement, horizontal swing high sresistance).
Stochastic (55, 5, 3) is approaching its support at 3.5% where a corresponding bounce could occur.
AUDUSD is approaching its resistance at 0.6933 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 0.6902 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a corresponding reversal is expected.
EURNZD is testing its ascending support line. If it breaks out of its ascending line and its 1st support at 1.7029 (61.8% Fibonacci extension), then it could confirm a further move down to its 2nd support at 1.6943 (100% Fibonacci extension, 50% Fibonacci retracement).
Ichimoku cloud shows signs of downward pressure as well.
