EURUSD Declined To Make A New Low To 1.05
ORBEX | Mar 12, 2015 05:04AM ET
EUR/USD Daily Pivots
R3 - 1.0875
R2 - 1.0796
R1 - 1.067
Pivot - 1.059
S1 - 1.0464
S2 - 1.0384
S3 - 1.02582
EUR/USD declined to make a new low to 1.05 levels and looks to have hit support. A break below this low could see more declines on the cards for EUR/USD. On the other hand, a bounce would see a test to the daily pivot level and the falling trend line for resistance. Only a break above the first trend line will give any views of a change in direction, which given the current circumstances looks quite unlikely.
USD/JPY Daily Pivots
R3 - 122.56
R2 - 122.089
R1 - 121.787
Pivot - 121.317
S1 - 121.015
S2 - 120.544
S3 - 120.233
USD/JPY continues it ascent in a sharp angle. Price made a brief high at 122 before easing back from the highs. A break above 122 is required for USD/JPY to push higher, while a failure to do so could see a decline lower to test the support at 120.8 levels, which shows a strong confluence of the short term trend line and the horizontal support level as well.
GBP/USD Daily Pivots
R3 - 1.5255
R2 - 1.5175
R1 - 1.5051
Pivot - 1.4972
S1 - 1.4849
S2 - 1.4769
S3 - 1.4645
GBP/USD posted another day of decline and is seen trading near 1.4914 lows currently stabilizing near these levels. A break below this low could open the way for a decline down to the next support at 1.4502 levels with not much of support in between. On the contrary, a reversal from the current lows could see a bounce towards the resistance at 1.504 levels but not before reacting to the trend line from the main price channel.
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