Weekly Technicals - Majors

S&P 500 Daily
Bias - FLAT

Prices are consolidating above the psychological 1,400 figure. The recent candlestick hints of a bounce. Initial resistance is 1,420 - 1,425 area. A break above resistance exposes the underside of a rising channel from June low, near 1,440 - 1,450.

Aud/Usd Daily
Bias - FLAT

Prices are consolidatiog below resistance near 1.0371, the 61.8% Fibonacci level, as shown in chart above. Near-term support is at 1.02. Alternatively, a break above resistance exposes a major falling trend line between 1.0560 - 1.0580, a level reinforced by the 78.6% Fibonacci level close to 1.06.

Eur/Usd Daily
Bias - Bullish

Prices are still in a range between 1.31 & 1.28. Initial supports are around 1.2850, the 50SMA & the range bottom. Resistance are at 1.30 & 1.3140.

Gbp/Usd Daily
Bias - FLAT

Prices bounced from support – the 38.2% Fibonacci near 1.59, as shown in chart above. Current consolidation is between the 23.6% Fibonacci & the near term falling trend line just above 1.61. A break above 1.61 exposes double top resistance at 1.63. Alternatively, a reversal below 1.60 put the focus back towards 1.59.