by E-Forex Team E-Forex
EURUSD
Euro's
recovery against the US dollar on yesterday fails to suggest much and a
clear breach above 1.4045/50 is required to signal a resume of the
uptrend. Current pullback to 1.3970 at the time of this writing seem
corrective and support at 1.3950 or lower, at 1.3900/25 should hold in
order to continue developing the bullish structure. Intra-day sentiment
is negative and a breach above first resistance on the 1.4000 mark
would turn the hourly momentum positive. On a short-term basis, upside
is expected to remain slightly favored - as long as the euro holds
gains above 1.3900. Below that, first bearish objective resides at
1.3830. Current quote is 1.3965 @06:05 GMT
Support levels: 1.3925/50, 1.3880/00, 1.3830 and 1.3730/50 Resistance levels: 1.4000, 1.4030/50 and 1.4100 Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
AUDUSD
The
Aussie dollar failed to recover much on yesterday but trades steady
near the .7800 mark. Short-term sentiment remains slightly bearish
although current downtrend move is probably corrective. Upside barriers
are seen at .7880/00 followed by .7950/60. Downside pressure is likely
to remain high and keep the pair into a 'sell the rallies' stance, as
long as it holds below .7950. Above that, the Aussie should get another
chance on aiming the .8100 key resistance formed by the upper limit of
the current downtrend channel formed on the daily charts. Current quote
is .7811 @06:05 GMT
Support levels: .7750/60, .7700/20 and .7625/50 Resistance levels: .7830, .7880/00, .7915 and .7950/60 Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
EURCHF
Not
much has changed since yesterday, the pair being supported by 1.5100.
Below 1.5100, extended losses may reach 1.5050. On the upside,
resistance starts at 1.5150 followed by 1.5200 and 1.5235/50. Short
term sentiment remains bearish and a breach above 1.5235/50 is needed
to resume uptrend. The daily range remains very low - around 60 points
/ day. Current quote is 1.5132 @06:05 GMT
Support levels: 1.5100, 1.5050 and 1.5000/10 Resistance levels: 1.5150, 1.5200 and 1.5235/50 Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
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