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Daily technical outlook − Tuesday 07.15.2008

Tue, Jul 15 2008, 06:48 GMT
by E-Forex Team

E-Forex


EURUSD

The Euro continues its upward move against the dollar, bringing pressure into the mid 1.59 zone. Interim resistance at 1.5943/50 is getting cleared right now, followed by 1.5965/70 and the record high into the 1.6019 region. On the downside, intraday support starts at 1.5900 backed by 1.5860, 1.5840 and 1.5805. The upside remains favoured and a test of the 1.6000-1.6019 region seem highly possible if the support into the 1.5840 zone remains intact. Current quote is 1.5948 @06:45 GMT

Support levels: 1.5900, 1.5860, 1.5840 and 1.5805.
Resistance levels: 1.5943/50, 1.5970, 1.6000 and 1.6019.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish

AUDUSD

The Aussie maintains its bid tone and continues to climb towards the .9800 mark, providing clues that parity may be reached within a few days if market sentiment remains unchanged. Support is now seen into the .9715/25 region backed by .9675 and .9650. Resistance is formed at .9800 and .9850. Current quote is .9772 @06:45 GMT

Support levels: .9715/25, .9675 and .9650.
Resistance levels: .9800 and .9850.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish

EURCHF

Recent failure to break the 1.6245 resistance turned into a 100 points reversal, now testing support at 1.6145. Below the said support may extend the decline towards the 1.6000 mark. Daily sentiment is slightly bearish. Current quote is 1.6150 @06:45 GMT

Support levels: 1.6140/45, 1.6100 and 1.6080.
Resistance levels: 1.6170, 1.6200 and 1.6245.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : slightly bearish.


Published on  Tue, Jul 15 2008, 06:49 GMT

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