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Daily Technical Outlook − Friday 10.03.2008

Fri, Oct 3 2008, 06:36 GMT
by E-Forex Team

InnerFX


EURUSD

The Euro recovered some lost ground today after reaching fresh lows at 1.3745 on yesterday. Nearby resistance is on focus at 1.3885/00 followed by 1.3950 and 1.4 . Support starts at 1.3800 backed by 1.3745 and 1.3690. Intraday studies are bullish at the time of this writing and large moves are possible today due to the NFP data release in the US. Current quote is 1.3865 @06:35 GMT

Support levels: 1.3840, 1.3800, 1.3745/50 and 1.3690. 
Resistance levels: 1.3885/00, 1.3950 and 1.4
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish

AUDUSD

Today's recovery to .7800 provides an intraday bullish view on the pair. Resistance follows .7800 at .7850 and .7915. Support starts at .7750 backed by .7700 which is an important barrier formed by last year's bottoms. Below the said support at .7700 will be extremely bearish for the Aussie, opening the territory towards the .7000 mark. Current quote is .7782 @06:35 GMT

Support levels: .7750 and .7700. 
Resistance levels: .7800, .7850 and .7915. 
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish

EURCHF

The support into the 1.5650/60 region still holds despite the recent slip to 1.5630. However, the downside remains on focus and the decline may resume. Resistance is seen at 1.5700 followed by 1.5750 and 1.5810. Current quote is 1.5685 @06:35 GMT

Support levels: 1.5650/60 and 1.5600.
Resistance levels: 1.5700, 1.5750, 1.5810 and 1.5860. 
Market sentiment: long-term : bullish, mid-term : neutral, short-term : bearish

Published on  Fri, Oct 3 2008, 06:38 GMT


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