EURUSD
The downside break out of the triangle formation renews the bearish bias and the Euro may fall lower towards the key support at 1.2335, if current resistance region of 1.2650-1.2675 will remain intact. Interim support is formed at 1.2525. The daily studies are bearish while hourlies are bullish at the time of this report, due to the current pullback. Current quote is 1.2616 @07:40 GMT
Support levels: 1.2585, 1.2525 and 1.2335.
Resistance levels: 1.2650/75, 1.2790, 1.2900 and 1.3050.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday recommended trade: stand aside
AUDUSD
Support at .6510 formed by the 50% of the last upward swing holds but daily momentum is losing strength. Below .6510 should resume downtrend while a potential recovery will be signaled by a sustained break of .6780, on the upside. Current quote is .6650 @07:40 GMT
Support levels: .6630, .6510 and .6400.
Resistance levels: .6780, .6860, .7010, .7135 and .7245.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish
Yesterday recommended trade: stand aside
EURCHF
The decline below support at 1.4970 on yesterday has extended into the mid 1.48 zone where a fib support has been tested. The entire collapse is corrective and the upside bias is intact, although losing strength. Strong resistance is seen at 1.5150 but it seem a bit too far for now. Support at 1.4835 is backed by 1.4740 which may become an easy target if 1.4835 fails to hold and downtrend resumes. Intraday studies are bullish. Current quote is 1.4930 @07:40 GMT
Support levels: 1.4900, 1.4835 and 1.4740.
Resistance levels: 1.4970, 1.5050 and 1.5150
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Yesterday recommended trade: small short at 1.4960 on break of 1.4970, initial stop at 1.5000, objective at 1.4860. Adjust stop to breakeven on +30 pips (at 1.4930) if reached: +100 pips
