Originally published by AxiTrader
AUD/USD - After spending almost two months in a rather tight range, volatility has finally increased again. The currency pair broke below the key support level at 0.76 today and momentum increased as stops below the big figure were triggered. Overall techs are still bullish, but it the short-term outlook will be determined by how price action will react in the key area between 0.7500 and 0.7520. As we see on the chart, there is strong support in form of the 100 and 200 DMA, as well as previous key highs/lows. Should we see a clear bounce from that area, AUD/USD could have another go for 0.77. However, if support breaks, a correction to at least 0.7280 seems more likely.
AUD/USD - Daily-Chart - 02.03.2017
GBP/USD is approaching a significant support level at 1.2250. A break below pave the way for a further correction to at least 1.2015. Key resistance is now seen around the former support level at 1.2380, where the 55 and 100 DMAs are residing as well.
GBP/USD - Daily-Chart - 02.03.2017
USD/JPY - the topside has been capped today at the 55 DMA and trendline resistance from the January high. However, momentum remains strong and further gains seem likely. Expect solid resistance in the area between 115.40 and 115.60. Should that obstacle be cleared as well, there is not much in the way of a 118 test.
USD/JPY - Daily-Chart - 02.03.2017
USD/CAD has seen strong momentum in the past days. It cleared three key resistance levels without much difficulties and is approaching 1.34. Should it be able to close the day above 1.3385, a further extension of the rally towards 1.36 seems likely. Expect decent support in the area between 1.3280 and 1.33, where the 100 DMA is resting as well.
USD/CAD - Daily-Chart - 02.03.2017