FOREX: CAD weakens further against dollar, trending toward the 1st upper band from the 12-month average closing price at 1.3300, and appears likely to continue to under perform against the European crosses.; Major Support and Resistance 06.03.2018

support and resist



EUR/USD -- Within minor uptick
* 3rd resistance: 1.2435 Feb. 19 high
* 2nd resistance: 1.2412 Feb. 20 high
* 1st resistance: 1.2369 Feb. 19 low
* Spot: 1.2315
* 1st support: 1.2260 Feb. 22 low
* 2nd support: 1.2242 Feb. 28 high
* 3rd support: 1.2222 Feb. 27 low

USD/JPY -- Consolidates within downtrend
* 3rd resistance: 106.51/60 Feb. 23/22 lows
* 2nd resistance: 106.38 Feb. 26 low
* 1st resistance: 106.29 March 2 high
* Spot: 105.70
* 1st support: 105.25 March 2 low
* 2nd support: 104.97 Nov. 10, 2016 low
* 3rd support: 104.63 Nov. 7, 2016 high

GBP/USD -- Trading sideways
* 3rd resistance: 1.3916 Feb. 28 high
* 2nd resistance: 1.3858 Feb. 27 low
* 1st resistance: 1.3842 50-DMA
* Spot: 1.3810
* 1st support: 1.3756 March 2 low
* 2nd support: 1.3712 March 1 low
* 3rd support: 1.3560 100-DMA

AUD/USD -- Lower, above the area of 12-month avg. closing
* 3rd resistance: 0.7826 Feb. 26 low
* 2nd resistance: 0.7804 Feb. 23 low
* 1st resistance: 0.7770/74 March 1/2 highs
* Spot: 0.7730
* 1st support: 0.7720, area of 12-month avg. closing price
* 2nd support: 0.7700 Dec. 22 low
* 3rd support: 0.7680/84 Dec. 20/19 highs

Source: Bloomberg Pro Terminal

Trader Velizar Mitov

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