[EURUSD]
Important Levels to Watch for:
- Resistance line of 1.18579 and 1.18816.
- Support line of 1.17814 and 1.17578.
Commentary/ Reason:
- Against the euro, the dollar stood at $1.1818 in Asia on Wednesday following a 0.4% decline in the yesterday session.
- Stochastic indicator entering the undervalued range, with RSI oscillators also edged toward the range.
- The MACD is trading below its signal line and negative. The configuration is negative.
[USDCHF]
Important Levels to Watch for:
- Resistance line of 0.91298 and 0.91551.
- Support line of 0.90481 and 0.90229.
Commentary/ Reason:
- The dollar bought 0.9089 Swiss franc, close to the lowest in more than five years against the safe harbour currency.
- Stochastic indicator entering the overvalued range, with RSI oscillators also edged toward the same range.
- The MACD is trading above its signal line and positive. The configuration is positive.
[GBPUSD]
Important Levels to Watch for:
- Resistance line of 1.31964 and 1.32403.
- Support line of 1.30543 and 1.30103.
Commentary/ Reason:
- Sterling was last trading at $1.3134, down 0.12% on the day, relatively managed to shrug off a lack of progress in Brexit trade negotiations between Britain and the European Union.
- Stochastic indicator entering the undervalued range, with RSI oscillator also edged toward the same range.
- The MACD is trading below its signal line and negative. The configuration is negative.