EURUSD
The euro dropped on yesterday, not being able to hold gains above the 1.4000 mark. The fast decline was mainly caused by the SNB intervention against the CHF. Short-term studies are showing indecision as the current uptrend is stalling within the 1.38-1.41 range. Intra-day sentiment is currently bearish due to yesterday's 250 points decline but the euro tries to base around the 1.3950 level. Support is emerging around 1.3900/10 - formed by the lower band of an upward trend channel seen on the hourly charts. Below 1.3900, next downside barriers are seen at 1.3830 and 1.3750/75. On the upside, minor resistance is formed again by the 1.4000 mark followed by 1.4045, 1.4140 and 1.4180 higher. Downside pressure is likely to remain high for now, a breach above 1.4045/50 being required to resume uptrend. Current quote is 1.3961 @06:15 GMT
Support levels: 1.3900, 1.3830 and 1.3750/75
Resistance levels: 1.4000, 1.4045/50, 1.4140 and 1.4180
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish
AUDUSD
Resistance into the .8050 region formed by the upper band of a downward trend channel could not be breached on yesterday and the Aussie dollar is losing strength, currently trading below the .8000 mark - at.7990. A sustained breach above .8050 could open the .8115-.8250 region. On the other side, if the Aussie fails to rebound to .8050 and above, an extended decline may target the .7750 region - the lower band of the mentioned downward trend channel. Current quote is .7991 @06:15 GMT
Support levels: .7950, .7885/00, .7860 and .7800
Resistance levels: .8015, .8050 and .8100/15
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
EURCHF
The euro rallied on yesterday as a result of the SNB intervention - selling francs. The pair is expected to trade violently for a while, until it will stabilize and hopefully the average daily range will be higher than 50-60 points as we got used to on the last weeks. A pullback below 1.5235/50 - former top side, could extend towards 1.5150/60 where another support layer is seen. Current quote is 1.5280 @06:15 GMT
Support levels: 1.5235/50, 1.5150/60 and 1.5100
Resistance levels: 1.5300, 1.5380/00 and 1.5500
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
The euro dropped on yesterday, not being able to hold gains above the 1.4000 mark. The fast decline was mainly caused by the SNB intervention against the CHF. Short-term studies are showing indecision as the current uptrend is stalling within the 1.38-1.41 range. Intra-day sentiment is currently bearish due to yesterday's 250 points decline but the euro tries to base around the 1.3950 level. Support is emerging around 1.3900/10 - formed by the lower band of an upward trend channel seen on the hourly charts. Below 1.3900, next downside barriers are seen at 1.3830 and 1.3750/75. On the upside, minor resistance is formed again by the 1.4000 mark followed by 1.4045, 1.4140 and 1.4180 higher. Downside pressure is likely to remain high for now, a breach above 1.4045/50 being required to resume uptrend. Current quote is 1.3961 @06:15 GMT
Support levels: 1.3900, 1.3830 and 1.3750/75
Resistance levels: 1.4000, 1.4045/50, 1.4140 and 1.4180
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish
AUDUSD
Resistance into the .8050 region formed by the upper band of a downward trend channel could not be breached on yesterday and the Aussie dollar is losing strength, currently trading below the .8000 mark - at.7990. A sustained breach above .8050 could open the .8115-.8250 region. On the other side, if the Aussie fails to rebound to .8050 and above, an extended decline may target the .7750 region - the lower band of the mentioned downward trend channel. Current quote is .7991 @06:15 GMT
Support levels: .7950, .7885/00, .7860 and .7800
Resistance levels: .8015, .8050 and .8100/15
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
EURCHF
The euro rallied on yesterday as a result of the SNB intervention - selling francs. The pair is expected to trade violently for a while, until it will stabilize and hopefully the average daily range will be higher than 50-60 points as we got used to on the last weeks. A pullback below 1.5235/50 - former top side, could extend towards 1.5150/60 where another support layer is seen. Current quote is 1.5280 @06:15 GMT
Support levels: 1.5235/50, 1.5150/60 and 1.5100
Resistance levels: 1.5300, 1.5380/00 and 1.5500
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
