Forex Pivot Points and Technical Analysis 12/31/2014

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2155$ with targets at 1.2190$ next 1.2220$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1255$ with targets at 1.1230$ next 1.2095$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2165,1.2250, 1.2300, 1.2350, 1.2400, 1.2500

Support: 1.2120, 1.2040, 1.1970

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5545$ with targets at 1.5590$ next 1.5620$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5545$ with targets at 1.5520$ next 1.5475$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5585, 1.5680, 1.5785, 1.5825, 1.5875

Support: 1.5485, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.9890 with targets at 0.9865 next 0.9835 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.9890 with targets at 0.9915 next 0.9945 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9970 , 1.0000, 1.0030, 1.0100

Support: 0.9885, 0.9815, 0.9740, 0.9650, 0.9595, 0.9550, 0.9525

USDJPY - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 119.65 with targets at 118.65 next 117.85 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 119.65 with targets at 120.45 next 121.50 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 119.90, 120.85, 121.70, 122.00, 122.35

Support: 118.60, 117.20, 115.50, 113.85

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1620 with targets at 1.1585 next 1.1560 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1620 with targets at 1.1640 next 1.1675 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1680, 1.1725, 1.1180

Support: 1.1560, 1.1500, 1.1370, 1.1310, 1.1290, 1.1180, 1.1120

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8170 with targets at 0.8220 next 0.8250 in extension.

Alternatively Bearish scenario: Short positions below the daily pivot point 0.8170 with targets at 0.8135 next 0.8085 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8215, 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640

Support: 0.8080, 0.8065, 0.7970 

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7820 with targets at 0.7860 next 0.7895 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7820 with targets at 0.7785 next 0.7740 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7800, 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7795, 0.7680, 0.7605, 0.7575

FX Market Commentary 12/31/2014

FX – EURO

THE EURO closed slightly higher on Tuesday as it extends this year's rally. The midrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this year's decline, monthly support crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.

FX – YEN

THE YEN closed lower on Tuesday. The lowrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes below today's low crossing would confirm that a high has been posted. If it renews this year's rally, weekly resistance crossing is the next upside target.

FX - SWISS FRANC

THE SWISS FRANC closed lower on Tuesday as it extends this month's decline. The midrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off July's low, monthly resistance crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a high has been posted.

FX – STERLING

STERLING closed higher on Tuesday. The highrange close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, monthly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a low has been posted.

Forex Pivot Points and Technical Analysis 12/30/2014

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.2185$ with targets at 1.2150$ next 1.2130$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2185$ with targets at 1.2205$ next 1.2240$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2165,1.2250, 1.2300, 1.2350, 1.2400, 1.2500

Support: 1.2130, 1.2040, 1.1970

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5545$ with targets at 1.5610$ next 1.5670$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5545$ with targets at 1.5485$ next 1.5420$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5680, 1.5785, 1.5825, 1.5875, 1.5950

Support: 1.5485, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9860 with targets at 0.9890 next 0.9910 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9860 with targets at 0.9840 next 0.9810 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9970 , 1.0000, 1.0030, 1.0100

Support: 0.9885, 0.9815, 0.9740, 0.9650, 0.9595, 0.9550, 0.9525

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 120.25 with targets at 120.60 next 120.80 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.25 with targets at 120.05 next 119.70 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.85, 121.70, 122.00, 122.35

Support: 119.90, 118.60, 117.20, 115.50, 113.85

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1615 with targets at 1.1640 next 1.1665 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1615 with targets at 1.1590 next 1.1565 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1680, 1.1725, 1.1180

Support: 1.1560, 1.1500, 1.1370, 1.1310, 1.1290, 1.1180, 1.1120

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8115 with targets at 0.8080 next 0.8055 in extension.

Alternatively Bullish scenario: Long positions above the daily pivot point 0.8115 with targets at 0.8140 next 0.8170 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8215, 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640

Support: 0.8080, 0.8065, 0.7970 

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7745 with targets at 0.7760 next 0.7780 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7745 with targets at 0.7725 next 0.7710 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7800, 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7680, 0.7605, 0.7575

FX Market Commentary 12/30/2014

FX - EURO

THE EURO closed lower on Monday as it extends this year's decline. The lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this year's decline, monthly support crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.

FX - YEN

THE YEN closed slightly higher on Monday. The highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews this year's rally, weekly resistance crossing is the next upside target. If it renews the decline off December's high, the 25% retracement level of the 20132014rally crossing is the next downside target.

FX - SWISS FRANC

THE SWISS FRANC closed higher on Monday as it extends this month's rally. The highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off July's low, monthly resistance crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a high has been posted.

FX – STERLING

STERLING closed lower on Monday. The lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, monthly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a low has been posted.

Forex Pivot Points and Technical Analysis 12/29/2014

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.2185$ with targets at 1.2150$ next 1.2130$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2185$ with targets at 1.2205$ next 1.2240$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2250, 1.2300, 1.2350, 1.2400, 1.2500, 1.2570

Support: 1.2160, 1.2040, 1.1970

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5545$ with targets at 1.5610$ next 1.5670$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5545$ with targets at 1.5485$ next 1.5420$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5680, 1.5785, 1.5825, 1.5875, 1.5950

Support: 1.5485, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9860 with targets at 0.9890 next 0.9910 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9860 with targets at 0.9840 next 0.9810 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance0.9890, 0.9970 , 1.0000

Support: 0.9815, 0.9740, 0.9650, 0.9595, 0.9550, 0.9525

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 120.25 with targets at 120.60 next 120.80 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.25 with targets at 120.05 next 119.70 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.85, 121.70, 122.00, 122.35

Support: 119.90, 118.60, 117.20, 115.50, 113.85

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1615 with targets at 1.1640 next 1.1665 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1615 with targets at 1.1590 next 1.1565 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1680, 1.1725, 1.1180

Support: 1.1560, 1.1500, 1.1370, 1.1310, 1.1290, 1.1180, 1.1120

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8115 with targets at 0.8080 next 0.8055 in extension.

Alternatively Bullish scenario: Long positions above the daily pivot point 0.8115 with targets at 0.8140 next 0.8170 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8215, 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640

Support: 0.8080, 0.8065, 0.7970 

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7745 with targets at 0.7760 next 0.7780 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7745 with targets at 0.7725 next 0.7710 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7795, 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7680, 0.7605, 0.7575

FX Market Commentary 12/29/2014

FX - EURO

THE EURO closed lower on Friday as it extends this year's decline. The lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this year's decline, monthly support crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.

FX – YEN

THE YEN closed slightly lower on Friday. The highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews this year's rally, weekly resistance crossing is the next upside target. If it renews the decline off December's high, the 25% retracement level of the 20132014rally crossing is the next downside target.

FX - SWISS FRANC

THE SWISS FRANC closed higher on Friday extending this month's rally. The midrange close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off July's low, monthly resistance crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a high has been posted.

FX – STERLING

STERLING closed slightly higher on Friday. The midrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, monthly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a low has been posted.

Forex Pivot Points and Technical Analysis 12/24/2014

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.2195$ with targets at 1.2145$ next 1.2115$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2195$ with targets at 1.2225$ next 1.2275$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2250, 1.2300, 1.2350, 1.2400, 1.2500, 1.2570

Support: 1.2160, 1.2040, 1.1970

GBPUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5540$ with targets at 1.5470$ next 1.5415$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5540$ with targets at 1.5590$ next 1.5660$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5680, 1.5785, 1.5825, 1.5875, 1.5950

Support: 1.5485, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9860 with targets at 0.9900 next 0.9925 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9860 with targets at 0.9840 next 0.9800 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance0.9890, 0.9970 , 1.0000

Support: 0.9815, 0.9740, 0.9650, 0.9595, 0.9550, 0.9525

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 120.50 with targets at 120.95 next 121.30 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.50 with targets at 120.20 next 119.75 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.20, 121.70, 122.00, 122.35

Support: 118.60, 117.20, 115.50, 113.85

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1630 with targets at 1.1590 next 1.1560 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1630 with targets at 1.1660 next 1.1695 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1680, 1.1725, 1.1180

Support: 1.1500, 1.1370, 1.1310, 1.1290, 1.1180, 1.1120

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8115 with targets at 0.8085 next 0.8055 in extension.

Alternatively Bullish scenario: Long positions above the daily pivot point 0.8115 with targets at 0.8140 next 0.8170 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8215, 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640

Support: 0.8080, 0.8065, 0.7970 

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7720 with targets at 0.7685 next 0.7660 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7720 with targets at 0.7745 next 0.7785 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7795, 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7675, 0.7605, 0.7575

FX Market Commentary 12/24/2014

FX - EURO

THE EURO closed lower on Tuesday as it extends this year's decline. The lowrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this year's decline, monthly support crossing is the next downside target. Closes above last Tuesday's high crossing would confirm that a shortterm low has been posted.

FX - YEN

THE YEN closed higher on Tuesday. The highrange close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews this year's rally, weekly resistance crossing is the next upside target. If it renews the decline off December's high, the 25% retracement level of the 20132014rally crossing is the next downside target.

FX - SWISS FRANC

THE SWISS FRANC closed higher on Tuesday extending this month's rally. The highrange close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off July's low, monthly resistance crossing is the next upside target. Closes below last Tuesday's low crossing is the next downside target.

FX - STERLING

STERLING closed lower on Tuesday marking a downside breakout of the trading range of the past fiveweeks. The lowrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, monthly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a low has been posted.

Forex Pivot Points and Technical Analysis 12/23/2014

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.2235$ with targets at 1.2200$ next 1.2180$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2235$ with targets at 1.2260$ next 1.2295$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance:  1.2300, 1.2350, 1.2400, 1.2500, 1.2570, 1.2605

Support: 1.2215, 1.2160, 1.2040

GBPUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.5605$ with targets at 1.5545$ next 1.5510$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5605$ with targets at 1.5640$ next 1.5695$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5785, 1.5825, 1.5875, 1.5950, 1.6025

Support: 1.5540, 1.5430, 1.5270

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9830 with targets at 0.9860 next 0.9880 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9830 with targets at 0.9815 next 0.9785 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9850, 0.9890, 0.9970

Support: 0.9740, 0.9650, 0.9595, 0.9550, 0.9525, 0.9470

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 119.90 with targets at 120.45 next 120.75 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 119.90 with targets at 119.60 next 119.00 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.20, 121.70, 122.00, 122.35

Support: 118.60, 117.20, 115.50, 113.85

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1620 with targets at 1.1665 next 1.1690 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1620 with targets at 1.1600 next 1.1555 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.1680, 1.1725, 1.1180

Support: 1.1500, 1.1370, 1.1310, 1.1290, 1.1180, 1.1120

AUDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.8155 with targets at 0.8070 next 0.8025 in extension.

Alternatively Bullish scenario: Long positions above the daily pivot point 0.8155 with targets at 0.8200 next 0.8280 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.8215, 0.8275, 0.8375, 0.8415, 0.8545, 0.8560, 0.8640

Support: 0.8080, 0.8065, 0.7970 

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7735 with targets at 0.7700 next 0.7680 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7735 with targets at 0.7755 next 0.7790 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7795, 0.7870, 0.7925, 0.7950, 0.7980

Support: 0.7675, 0.7605, 0.7575

FX Market Commentary 12/23/2014

FX - EURO

THE EURO closed lower on Monday as it extends this year's decline. The midrange close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this year's decline, monthly support crossing is the next downside target. Closes above last Tuesday's high crossing would confirm that a shortterm low has been posted.

FX - YEN

THE YEN closed higher on Monday. The highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews this year's rally, weekly resistance crossing is the next upside target. If it extends the decline off December's high, the 25% retracement level of the 20132014decline crossing is the next downside target.

FX - SWISS FRANC

THE SWISS FRANC closed unchanged on Monday. The highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off July's low, monthly resistance crossing is the next upside target.If it renews the decline off December's high,Tuesday's low crossing is the next downside target.

FX – STERLING

STERLING closed lower on Monday. The lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, monthly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a low has been posted.