Technical trading & analysis report – 14th October 2014
James Chen October 14, 2014 6:56 PM
<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 appears to be resuming its bearish trend as it backs off from key resistance around the 1.2750 level.
GBP/USD has also reasserted its bearish stance as it has reached its downside target of 1.5900.
USD/JPY has extended its pullback from the multi-year high established less than two weeks ago.
AUD/USD continues for the time being to respect and rebound off major support around the 0.8650 area.
Gold also continues to respect major support, with its recent triple-bottom bounce off the 1180 level.
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