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EURUSD Daily Pivots

R3 1.0895
R2 1.0789
R1 1.0705
Pivot 1.0599
S1 1.0515
S2 1.0410
S3 1.0326

 EURUSD H1 technical analysis pivot points currency trading March 16 2015

EURUSD dropped to make a new lower low at 1.04726 but managed to reverse from there on. Price action is currently back near the previous low at 1.04959. If this resistance holds, we could expect EURUSD to push lower on break of 1.04726. Alternatively, if the support below holds, EURUSD could test the daily pivot level.

USDJPY Daily Pivots

R3 122.013
R2 121.792
R1 121.578
Pivot 121.357
S1 121.143
S2 120.922
S3 120.708

USDJPY H4 technical analysis pivot points currency trading March 16 2015

USDJPY broke out from the triangle consolidation pattern but looks to be back close to the lower support level. However, price action is well supported with the trend line as well, which should help keep prices to push higher. To the downside, there is a strong support formed at 120.8, which looks unlike to be broken for the moment. The upside targets for USDJPY is currently eyeing the highs above 122 levels.

GBPUSD Daily Pivots

R3 1.5169
R2 1.5097
R1 1.4992
Pivot 1.4921
S1 1.4816
S2 1.4745
S3 1.4639

GBPUSD H1 technical analysis pivot points currency trading March 16 2015

GBPUSD is currently consolidating outside of the price channel, having broken from it from the lower support line. If price action continues higher, we could see a test to the broken support at 1.485 levels before the declines starts again. The rally should potentially stall near the highs above 1.48883 levels, failing which, we could see a further retest towards 1.50 levels.

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