EURUSD
The euro pulled back to 1.3900 after the modest test against the 1.4030/50 resistance zone. A potential breakout of the said resistance could have signaled a resume of the uptrend but downside pressure in crude and equities favour the selling on rallies to/above the 1.4000 handle. Current move is most likely corrective but while we don't have a confirmation of the bullish structure resumption, we should keep an eye on 1.3875/80 as a potential breakdown would open 1.3730/50. Downside will remain slightly favoured while the pair is traded below 1.4030/50. Above 1.4030, important resistance is seen at 1.4150/65 - formed by a downward trend line coming from previous tops at 1.4340 and 1.4200. Current quote is 1.3900 @05:45 GMT
Support levels: 1.3875/00, 1.3830 and 1.3730/50
Resistance levels: 1.4000, 1.4030/50, 1.4100, 1.4180/00
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
AUDUSD
The return into the positive region has been rejected on yesterday near the .8050 resistance, at .8035. Support into the .7855 is being challenged at the time of this writing. Below .7855 which is the median retracement of the .7450-.8260 upward move, next important support is seen at .7760 - the 61.8% fibonacci retracement of the mentioned upward move. Interim support is also seen around .7830 - formed by a rising trend line started at .7700 on May 26, through .7790 on June 23. Upside barriers are emerging at .7900, .8000 and .8035/50. A breakout above .8035/50 is needed to confirm that the corrective cycle has ended. Current quote is .7863 @05:45 GMT
Support levels: .7830/56, .7750/60 and .7680/00
Resistance levels: .7900, .8000, .8035/50, .8100 and .8155/85
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
EURCHF
Support at 1.5145/50 remains intact but the pair lacks liquidity and continues to trade into a daily range of 50 points. A breach above 1.5230/35 is needed to resume uptrend. Intra-day sentiment is bearish while the daily is neutral. Current quote is 1.5154 @05:45 GMT
Support levels: 1.5140/50 and 1.5100
Resistance levels: 1.5200, 1.5235/50, 1.5285 and 1.5325
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Daily Recommended Trades
Daily Technical Outlook
Wed, Jul 8 2009, 05:46 GMT
by
InnerFX
- InnerFX
|
View company's profile






