EURUSD
The euro is consolidating ahead of ECB's interest rate decision later today, trading near the 1.3300 mark at the time of this writing. First intra-day support is seen at 1.3275 formed by a rising trend line started at 1.3190 on April 30. Below that, next downside barriers are emerging at 1.3160 and 1.3070/95. Potential rallies may face resistance at 1.3375 then 1.3435 - recent top. Daily sentiment is positive and won't be affected as long as the euro holds above 1.3150/60. Current quote is 1.3282 @06:15 GMT
Support levels: 1.3275, 1.3200/10, 1.3160 and 1.3095
Resistance levels: 1.3375, 1.3430 and 1.3500
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bullish
AUDUSD
The Aussie dollar managed to breach above the key resistance at .7475 and next objective is now aimed at .7675, the bottom of 2007. Upside will most likely remain favored on a short-term basis as both daily and medium term studies are bullish. Intra-day momentum is positive as well and potential pullbacks may be limited by support at .7475 - previous resistance. Other downside barriers are seen at .7445/50 and .7420. Current quote is .7526 @06:15 GMT
Support levels: .7475, .7445/50 and .7420
Resistance levels: .7560, .7600 and .7675
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
EURCHF
Not much changed on the direction as the pair continues to trade into a narrow range of 50-60 points / day. First resistance is seen at 1.5125 and a potential breach should favor a climb towards 1.5230 where a more notable resistance is formed. On the downside, the 1.5000/10 support will play a decisive role if reached. Current quote is 1.5096 @06:15 GMT
Support levels: 1.5050, 1.5000/10, 1.4910/30 and 1.4800.
Resistance levels: 1.5125, 1.5170, 1.5200 and 1.5230.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Daily Recommended Trades
Daily Technical Outlook
Thu, May 7 2009, 06:17 GMT
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InnerFX
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