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Major Pairs On May 12th, 2015: Bullish AUDUSD Targets 0.79703-0.80037



May 11, 2015  
Generally, AUD/USD remains in bearish bias. But be careful if the resistance at 0.79496 breaks, because it will turn intraday bias into bullish.

USD/CHF

The intraday bias for USD/CHF currently remains bullish. If the resistance at 0.93574 breaks, price may continue to move higher up to 0.94534.

As alternative scenario, you may try to look for another buy signal confirmation if correction occurs to the support area at 0.92897, which rebound target would be at 0.93574.

On the contrary, be careful if the support at 0.92897 breaks, because it will turn intraday bias into bearish and potentially will push price down to 0.92141.


 

 

USD/JPY

USD/JPY remains in bearish bias. A pull-back move has occurred into the support area at 119.65 – 119.80. Hourly stochastic and CCI are oversold. You can look for buy signal confirmation within the support area with target back to 120.26.

On the contrary, be careful if the support at 119.65 breaks, because it will turn intraday bias into bearish and potentially will bring price down to 119.33.



 

EUR/USD

EUR/USD remains in bearish bias in general. A pull-back move has occurred into the Fibonacci resistance area at 1.11905-1.12279. Hourly stochastic and CCI are overbought. You can look for sell signal confirmation within the resistance area with target back to 1.11673-1.11299.

On the contrary, be careful if the resistance at 1.12279 breaks, because it will turn intraday bias into bullish and potentially will raise euro up to 1.12511-1.12885.



 

AUD/USD

Generally, AUD/USD remains in bearish bias. A pull-back move has occurred into the Fibonacci resistance area at 0.79163-0.79496. Hourly stochastic and CCI are overbought. You can look for sell signal confirmation within the resistance area with target back to 0.78956-0.78622. The sell signal will be stronger if followed by a break below 0.79163.

On the contrary, be careful if the resistance at 0.79496 breaks, because it will turn intraday bias into bullish and potentially will raise Aussie up to 0.79703-0.80037.



 

GBP/USD

The intraday bias for GBP/USD currently remains bullish; testing the resistance area at 1.56121. If the resistance breaks, sterling may continue to move higher up to 1.56732-1.57415.

As alternative scenario, you may try to look for another buy signal confirmation if correction occurs to the support area at 1.55132-1.54522; rebound target would be at 1.55510-1.56121.

On the contrary, be careful if the support at 1.54522 breaks, because it will turn intraday bias into bearish and potentially will push sterling down to 1.54144-1.53533.