EURUSD
The euro continues to advance vs. the US dollar, breaking above 1.4135 on yesterday. Current retreat is corrective and the upside is likely to remain under pressure while the support at 1.4100 holds. On a resume of the uptrend, intra-day targets may be set on the 1.4200 handle on first phase then 1.4270, later. No notable upside barriers are formed until 1.4330/40 but the euro has to stabilize first above former resistance into this 1.4125/35 region. Current quote is 1.4125 @06:05 GMT
Support levels: 1.4100, 1.4050, 1.4015 and 1.3970
Resistance levels: 1.4150/65, 1.4200 and 1.4340
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
AUDUSD
Trend line resistance into the .8070 zone seem difficult to overcome and the Aussie pulledback to as low as .7980 on today's Asian session. Short term bullish structure is intact as such pullbacks are normal. A break above .8070 will be a strong bullish signal so keep an eye on the upside if the Aussie dollar will manage to rebound towards today's open rate at .8060. On the lower side, below .7970/80, next support is formed around .7925. Intra-day sentiment is bearish at the time of this writing. Current quote is .8006 @06:05 GMT
Support levels: .7980, .7925 and .7870
Resistance levels: .8070/80, .8150 and .8200
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
EURCHF
1.5170 provides a minor support now and while it holds, 1.5230 will be the upside objective. A breach of 1.5230 is needed to signal a resume of the uptrend. The daily range is likely to remain very low - around 50 points. Current quote is 1.5176 @06:05 GMT
Support levels: 1.5170, 1.5100, 1.5050 and 1.5000/10
Resistance levels: 1.5235/50, 1.5300 and 1.5350
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Daily Recommended Trades
Daily technical outlook
Fri, Jul 17 2009, 06:06 GMT
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InnerFX
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