EURUSD
The euro is steady ahead of FOMC's Interest Rate Decision later today. Yesterday's rebound suggests that the corrective cycle could be over and we are now heading towards the recent top side at 1.4340. Due to the 280 points rally, the euro managed to breach above important upside barriers on yesterday - first around 1.4000/10 formed by last week's high along with the downward trend-line extended through previous 3 weeks' tops which came around 1.3970 then 2'nd barrier formed by the median retracement of the 1.4340-1.3750 down leg, at.14045. Current recovery has been limited by the 61.8% retracement of the mentioned down-leg, at 1.4115. On potential pullbacks, support is expected to react into the 1.3970-1.4000 region, or otherwise the euro will extended losses back into the 1.38-1.39 region. Both intra-day and daily studies are bullish at the time of this writing and the upside is favored - renewed gains may challenge the 1.4300 mark. Current quote is 1.4078 @06:10 GMT
Support levels: 1.4050, 1.3970/00, 1.3900 and 1.3820
Resistance levels: 1.4115/20, 1.4200 and 1.4340
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
AUDUSD
Although it recovered some lost ground on yesterday, the Aussie dollar has yet to breach above the .8000 mark in order to signal a resume of the uptrend. Above .8000, interim resistance is formed by a downward trend-line extended through last two weeks' highs at .8235 and .8115 - coming around .8050 today. Intra-day sentiment is positive and .8115 looks like a decent bullish objective on the coming sessions - if .8000 will be cleared out. On the lower zone, support is emerging at .7885/00 backed by .7860 and .7800. Current quote is .7954 @06:10 GMT
Support levels: .7885/00, .7860 and .7800
Resistance levels: .8000, .8050 and .8100/15
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
EURCHF
The pair trades slightly lower but tries to stabilize above the 1.5000 mark. If the 1.5 handle holds, a recovery could aim towards 1.5100 - the upper limit of the current downtrend channel. Intra-day studies are bearish. Current quote is 1.5020 @06:10 GMT
Support levels: 1.5000/10, 1.4950 and 1.4900
Resistance levels: 1.5050, 1.5100, 1.5150 and 1.5225/30
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
The euro is steady ahead of FOMC's Interest Rate Decision later today. Yesterday's rebound suggests that the corrective cycle could be over and we are now heading towards the recent top side at 1.4340. Due to the 280 points rally, the euro managed to breach above important upside barriers on yesterday - first around 1.4000/10 formed by last week's high along with the downward trend-line extended through previous 3 weeks' tops which came around 1.3970 then 2'nd barrier formed by the median retracement of the 1.4340-1.3750 down leg, at.14045. Current recovery has been limited by the 61.8% retracement of the mentioned down-leg, at 1.4115. On potential pullbacks, support is expected to react into the 1.3970-1.4000 region, or otherwise the euro will extended losses back into the 1.38-1.39 region. Both intra-day and daily studies are bullish at the time of this writing and the upside is favored - renewed gains may challenge the 1.4300 mark. Current quote is 1.4078 @06:10 GMT
Support levels: 1.4050, 1.3970/00, 1.3900 and 1.3820
Resistance levels: 1.4115/20, 1.4200 and 1.4340
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
AUDUSD
Although it recovered some lost ground on yesterday, the Aussie dollar has yet to breach above the .8000 mark in order to signal a resume of the uptrend. Above .8000, interim resistance is formed by a downward trend-line extended through last two weeks' highs at .8235 and .8115 - coming around .8050 today. Intra-day sentiment is positive and .8115 looks like a decent bullish objective on the coming sessions - if .8000 will be cleared out. On the lower zone, support is emerging at .7885/00 backed by .7860 and .7800. Current quote is .7954 @06:10 GMT
Support levels: .7885/00, .7860 and .7800
Resistance levels: .8000, .8050 and .8100/15
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
EURCHF
The pair trades slightly lower but tries to stabilize above the 1.5000 mark. If the 1.5 handle holds, a recovery could aim towards 1.5100 - the upper limit of the current downtrend channel. Intra-day studies are bearish. Current quote is 1.5020 @06:10 GMT
Support levels: 1.5000/10, 1.4950 and 1.4900
Resistance levels: 1.5050, 1.5100, 1.5150 and 1.5225/30
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
