EURUSD
Support at 1.2540/50 is intact as the Euro managed to hold above it on yesterday but downside pressure remains high and a resume of the downtrend could accelerate losses below 1.2550, to 1.2400/20. Daily momentum is bearish and the Euro has to climb past 1.2890 in order to confirm a potential reversal. Hourly studies are neutral at the time of this report. Resistance emerges at 1.2720 followed by 1.2800 and 1.2890. Current quote is 1.2579 @07:15 GMT
Support levels: 1.2540/50, 1.2400/20 and 1.2330.
Resistance levels: 1.2720, 1.2800 and 1.2890.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday recommended trade: small short at 1.2720, initial stop at 1.2760, objective at 1.2620. Adjust stop to breakeven on +30 pips (at 1.2690) if reached : 0 (entry not reached)
AUDUSD
Intra-day sentiment is bullish but current recovery could be corrective. The Aussie Dollar has to breach above .6535 in order to suggest that a recovery is underway. The short-term studies remain bearish while trading below .6650/60. Interim support is seen at .6330 backed by stronger barriers at .6280 and .6250. Current quote is .6424 @07:15 GMT
Support levels: .6330, .6300 and .6250.
Resistance levels: .6475, .6535 and .6650/60.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
Yesterday recommended trade: stand aside
EURCHF
The test of 1.4840 resistance on yesterday may repeat as the intra-day studies favor further climbing. Support starts at 1.4750 backed by 1.4700 and 1.4650. Above 1.4840, resistance also emerges at 1.4900 and 1.5010/20. Daily sentiment is bearish. Current quote is 1.4775 @07:15 GMT
Support levels: 1.4750, 1.4700, 1.4650 and 1.4500.
Resistance levels: 1.4840, 1.4900 and 1.5010/20.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday recommended trade: small short at 1.4840, initial stop at 1.4880, objective at 1.4760. Adjust stop to breakeven on +30 pips (at 1.4810) if reached : +80 pips
