By Mohammed Isah, technical strategist and head of research at

EUR/USD maintains its offered tone set the past week as it looks to head further lower toward its strong support at the 1.3433 level. That level preserves its consolidation phase and a loss of there will trigger the resumption of its broader medium-term declines.

GBP/USD continues to face downside pressure, slipping to a low of 1.4929 in early trading today before backing off. It is currently hesitating, but retains its bear pressure and looks to test lower prices at the 1.4871 level ahead of the 1.4782 level. Resistance lies at the 1.5253 level.

USD/JPY remains hesitant as it continues to look for a direction within its established long-term falling channel. While that holds, its medium-term trend remains lower, with risk seen toward the 89.14 level. Resistance resides at the 91.07 level.

USD/CAD has followed through higher on its Friday strength, suggesting a further up move should target its support turned resistance at the 1.0219/04 levels. A reversal of roles is expected there.

AUD/USD is on a roll, building on its past week losses and poised to weaken further, with eyes on the 0.9053 level and then the 0.9000 level. Resistance comes in at the 0.9153 level.

EUR/GBP is now seen selling off after testing an intraday high of 0.9044 today. While the cross remains below the 0.9148 level, we see risk to the downside toward the 0.8914 level. With a continuation of its past week's weakness under way, threats continue to build toward its strong support located at the 121.44 level, where a break will turn focus to the 119.63 level.
Mohammed Isah is a technical strategist and head of research at, a technical-research Web site. He has been trading and analyzing the foreign exchange market for the past seven years. He formerly traded stocks before crossing over to the forex market, where he worked for FXInstructor LLC as a technical analyst and head of research before joining He has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal Magazine, The International Business Times and At, he writes daily, weekly and long-term technical commentaries on currencies and commodities, which are offered to its clients. He also produces The Professional Suite for his subscribers. He provides full coverage of the forex market with specific focus on G10 currencies as well as the commodities markets, with focus on five key commodities.