Technical trading & analysis report – 23rd September 2014

<p>Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD as well as […]</p>

Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD as well as gold. The focus is on technical price trends and major support and resistance levels.

 


 

 

EUR/USD continues to show a strong bearish bias having consolidated below the 1.3000 level, and is now targeting key support around 1.2750.

GBP/USD has rebounded above 1.6300, but should be limited to the upside by the 1.6500 resistance level.

USD/JPY has reached yet a new long-term high after hitting and surpassing its 108.00 upside target.

AUD/USD has dropped down further to hit its 0.8850 target, and could be poised to breakdown to new lows.

Gold has also dropped further and is eyeing long-term lows around the 1180 level.

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