FOREX TECHNICAL LEVELS

EURUSD No change in the Euro with the pair still trading within the August range. The key parameters to note are 1.2941, Aug 21 high and 1.2695, Aug 14 low where a break is required to provide the next clear directional move.

USDCHF Continues to trade within its consolidative range. The top of the range and key resistance lies at 1.2446, Aug 15 high with the base at 1.2183, Aug 21 low. These levels still mark the key near-term directional parameters.

GBPUSD Has stalled ahead of the key resistance at 1.9146, the Aug 8 high with attention again turning to primary support at 1.8775, Aug 18 low. A break of this level is required to confirm a reversal.

USDJPY Found support at 115.56 yesterday with the bounce seen as a correction ahead of further weakness. Initial resistance is located at 116.77, the 61.8% retracement of the decline from 117.51 to 115.56. 115.56 marks the next downside trigger.

USDCAD Has defined support for now at 1.1029, the Aug 31 low where a break is required to trigger further USD downside towards the June 12 low of 1.0958 and the May low of 1.0929 which is also the multi-year trend low. 1.1140, yesterday's high marks initial resistance, a break would expose 1.1275, the Aug 18 high.

AUDUSD Is likely to extend gains with the sequence of higher highs and higher lows still intact. The Aussie has recently breached former resistance at 0.7717, the Aug 10 high which sets the scene for a climb towards 0.7795, the May 11 high. Initial support this morning, comes in at 0.7652, Sep 4 low.