Forex Technical Update


General USD weakness has traders looking to buy on dips to 1.2140 or a break of 1.2180/90 for the next target at 1.2240/50

The key area of support for EUR/USD Bulls is 1.2060/80 while the price stays above this pivotal level, buying pressure will remain as the market driver.

A break below 1.2060 will see day traders liquidate longs and another attempt at 1.2000/1.1980 Support.


The USD is testing Resistance in the 109.00/20 area, sellers here will be looking for another drop to 108.40/50 support and possibly 108.00

A break of resistance at 109.20 will see a run up to 109.60.


The GBP is showing good strength today, and is trying to break resistance at 1.4050/60 to attack 1.4090/1.4100 and then 1.4140/60 in extension.

Buyers will now be found in force at strong support in the 1.3980/1.4000 area. However, a break back below 1.3980 will then target the 1.3920/40 area.


The USD remains close to its lows with support at 0.9000, a break of support will see a test of 0.8950/60.

The USD may struggle to break resistance at 0.9060/80, if it can take back 0.9080 it will open up a run to 0.9120.

Analysis provided by

Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

4 thoughts on “Forex Technical Update

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