Sell AUD/USD on bearish price RSI div

Bearish price RSI divergence on the daily chart

Sell around 0.7990
Objective 0.7892-0.7860
Stops above 0.8043

AUDUSD D1 (08-01-2017 1810).png

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Cable drops to 10-DMA, is the top in place?

Cable is hanging around 10-DMA level of 1.2961 after the post-retail sales rally fell apart at 1.3020.

The 1-hour 200-DMA level of 1.2965 has been breached. The quid has retraced 50% of the rally from 1.2812. 61.8% is 1.2932 – that is where the current sell-off may come to a halt, although I prefer to be a seller on upticks…

 

USD/CAD – Some key long-term levels to watch out for…

Monthly chart – Spot currently trades at 1.2590

1.2461 – May 2016 low

1.2239 – confluence of rising trend line and upward sloping monthly 50-MA

1.2621 – 50% Fibonacci retracement of 1.6185-0.9057

1.2672 – 38.2% Fibonacci retracement of 0.9407-1.4690

Indicators – RSI has turned bearish, MACD shows the bearish momentum is gathering pace

Monthly chart

USDCAD M1 (07-18-2017 1746).png

 

Kiwi eyes Sep 2016 highs…

Today’s candle is super bullish…watch the sharp recovery from the session low of 0.7260. The RSI has nicely bounced off 50 levels. An end of the day close above 0.7368 would bring in fresh bids for 0.7485 (Sep 2016 high) – 0.7500 levels.

Daily chart

NZDUSD D1 (07-18-2017 1709).png

 

Big level to watch out for on EUR/GBP

The key level to watch out for on the higher side is 0.9070 – 161.8% Fibonacci extension of the rally from 1999 low. The level acted as a good resistance in 2010, 2011, and 2016. The spike above 0.9070 last year was short lived.

The MACD shows the bullish move is again gathering pace… the RSI is rising as well

EURGBP M1 (07-18-2017 1644).png