EURUSD
The Euro rallied on yesterday, recovering 460 points after testing bids at 1.2390, forming a reversal pattern on the daily studies. The upside is now on focus as long as intraday support at 1.2640/50 remains intact. Resistance is seen at 1.2850 followed by 1.2950 and 1.3050. A downward trendline resistance is formed by the recent daily highs and is now seen around 1.2835. A sustained break of this resistance region of 1.2830-50 will be bullish for the Euro, confirming the reversal. Current quote is 1.2736 @07:40 GMT
Support levels: 1.2700, 1.2640/50, 1.2515 and 1.2335.
Resistance levels: 1.2830/50, 1.2950, 1.3050 and 1.3150.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
AUDUSD
Interim support at .6510 provides the first intraday bottom for today, backed by .6390 and .6245 lower. A potential reversal will be signaled by breaking the resistance at .6790. Hourly studies are sligthly bearish although the pullback to .6520 is corrective so far. Current quote is .6555 @07:40 GMT
Support levels: .6510, .6390 and .6245.
Resistance levels: .6690, .6790 and .6990.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bearish
EURCHF
The support at 1.4735 formed by the 50% retracement of the 1.4300-1.5170 move provided a reversal point on yesterday and the momentum regained strength, the pair advancing higher towards the 1.52 mark. A corrective move is possible and if it occurs, support will be faced at 1.5050 and maybe lower, at 1.4940/50. The upside remains favored. Current quote is 1.5135 @07:40 GMT
Support levels: 1.5050, 1.4940/50 and 1.4750.
Resistance levels: 1.5200, 1.5360 and 1.5400.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
