EURUSD Daily Pivots
| R3 | 1.1424 |
| R2 | 1.1384 |
| R1 | 1.1352 |
| Pivot | 1.1312 |
| S1 | 1.1279 |
| S2 | 1.1239 |
| S3 | 1.1207 |
EURUSD was trading within a tight range, susceptible to any news leaks on the ongoing Greece debt negotiations. We notice that the price action to the downside is fairly limited at least as long as the support at 1.1316 – 1.132 holds. The currency pair may target the 1.14 handle to the upside. Alternatively, a decline below 1.132 could see the next support at 1.1277 being achieved.
USDJPY Daily Pivots
| R3 | 121.116 |
| R2 | 120.368 |
| R1 | 119.897 |
| Pivot | 119.149 |
| S1 | 118.678 |
| S2 | 117.93 |
| S3 | 117.459 |
USDJPY eventually broke out from the bullish flag pattern and managed to close above the major support zone. We expect a small decline down to 119.164 – 118.974 before the rally continues towards the next target level at 120.158. A break below the support at 118.870 could potentially threathen this view.
GBPUSD Daily Pivots
| R3 | 1.5367 |
| R2 | 1.5321 |
| R1 | 1.5288 |
| Pivot | 1.5242 |
| S1 | 1.5209 |
| S2 | 1.5163 |
| S3 | 1.5129 |
Failure to rise above the previous high near the 1.52585 level in GBPUSD is indicative of a possible decline to find support. The first short term support level comes in at 1.52067 a break of which will see the decline to the next support at 1.51815 and eventually down to 1.51532. A break to the upside above 1.52484 will be required in order for the pair to look for more upside gains.
In our latest podcast, we do an Aussie Analysis, Greek Grindings and Oil Optimism.
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