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PIG TODAY-15.09.2016-Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB

 

EUR/USD: Neutral: In a 1.1150/1.1330 range.

EUR continues to trade listlessly and the neutral phase that started early last week is still intact. We continue to expect EUR to trade sideways from here, likely within a 1.1150/1.1330 range.

GBP/USD: Bearish: Target a move to 1.3060.

While the recent strong downward momentum is dented with the strong rebound from a low of 1.3139 yesterday, the outlook for GBP for the next couple of weeks is still deemed as bearish (we just turned bearish yesterday). The immediate target and stop-loss are unchanged at 1.3060 and 1.3340 for now.

AUD/USD: Bearish: Decline over-extended but room for further extension to 0.7420.

As highlighted yesterday, despite the over-extended downmove, the current weakness in AUD has room to extend further to 0.7420 (the next support is close-by at 0.7390).

NZD/USD: Bearish: Downside likely limited to 0.7200.

While we turned bearish NZD yesterday, we were of the view that the downside potential is likely limited to 0.7200 (low in late August). On the upside, 0.7305 is a strong resistance ahead of the stops at 0.7340.

USD/JPY:  Neutral: In a 101.20/103.30 range.

As highlighted yesterday, despite the positive undertone, USD has to close above the 103.30 resistance before further up-move can be expected. The build-up in momentum fizzled out quickly with the sharp drop from the high of 103.34. The outlook from here is still viewed as neutral but USD has likely moved back into a broad sideway trading range of 101.20/103.30.

Source: efxnews.com

 

EUR/USD: Neutral: In a 1.1150/1.1330 range.

EUR continues to trade listlessly and the neutral phase that started early last week is still intact. We continue to expect EUR to trade sideways from here, likely within a 1.1150/1.1330 range.

GBP/USD: Bearish: Target a move to 1.3060.

While the recent strong downward momentum is dented with the strong rebound from a low of 1.3139 yesterday, the outlook for GBP for the next couple of weeks is still deemed as bearish (we just turned bearish yesterday). The immediate target and stop-loss are unchanged at 1.3060 and 1.3340 for now.

AUD/USD: Bearish: Decline over-extended but room for further extension to 0.7420.

As highlighted yesterday, despite the over-extended downmove, the current weakness in AUD has room to extend further to 0.7420 (the next support is close-by at 0.7390).

NZD/USD: Bearish: Downside likely limited to 0.7200.

While we turned bearish NZD yesterday, we were of the view that the downside potential is likely limited to 0.7200 (low in late August). On the upside, 0.7305 is a strong resistance ahead of the stops at 0.7340.

USD/JPY:  Neutral: In a 101.20/103.30 range.

As highlighted yesterday, despite the positive undertone, USD has to close above the 103.30 resistance before further up-move can be expected. The build-up in momentum fizzled out quickly with the sharp drop from the high of 103.34. The outlook from here is still viewed as neutral but USD has likely moved back into a broad sideway trading range of 101.20/103.30.

Source: efxnews.com

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