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Daily Technical Outlook − Tuesday 12.09.2008

Tue, Dec 9 2008, 07:43 GMT
by E-Forex Team

InnerFX


EURUSD

The Euro is currently testing intraday support at 1.2855, retreating from the 1.2950 zone where key resistance could not be breached on yesterday. The daily studies are slightly bullish and a sustained break of 1.2950 is needed to confirm the uptrend. While trading below the said barrier, support on the 1.2800 handle and lower, at 1.2760, may come into play later today. Hourly studies are bearish at the time of this report. Current quote is 1.2850 @07:40 GMT

Support levels: 1.2855, 1.2800 and 1.2760.
Resistance levels: 1.2900, 1.2950/60 and 1.3080.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish

AUDUSD

Support into the .6535 region is on focus as the Aussie Dollar failed to hold above the .6600 mark. Current decline below .6600 seem corrective and uptrend is expected to resume if support at .6535 or lower, at .6490, will hold. Daily momentum is bullish. Resistance is now seen at .6600 followed by .6690/00. A sustained break of .6690 will probably open .7020 for a later test within the next days. Current quote is .6545 @07:40 GMT

Support levels: .6535, .6470/90 and .6390.
Resistance levels: .6600, .6690/00 and .6750.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish

EURCHF

Medium term resistance is formed into the 1.5580 zone by the 61.8% retracement of the 1.6367-1.4300 move. A sustained break is likely and such case will strengthen the positive momentum even more. Above the 1.5580-1.5615 resistance zone, next barrier is eyed at 1.5745/50. On the downside, support emerges at 1.5530 backed by 1.5450 and 1.5400. Current quote is 1.5574 @07:40 GMT

Support levels: 1.5530, 1.5450 and 1.5400.
Resistance levels: 1.5580-1.5615, 1.5700 and 1.5745/50.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish

Published on  Tue, Dec 9 2008, 07:44 GMT


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