EURUSD
The euro trades slightly lower against the US dollar, testing bids around the 1.4200 handle at the time of this writing. Intra-day price action suggests further downside biased consolidation, perhaps down to 1.4100 or 1.4050 support levels. Short term sentiment is positive and won't be affected by a potential retracement towards the mentioned support levels. On the upside, resistance starts at 1.4230 followed by 1.4275 and the yearly top at 1.4340. A potential break above 1.4230 would signal the resume of the uptrend, reinforcing the intra-day momentum. Current quote is 1.4204 @06:20 GMT
Support levels: 1.4150/60, 1.4100, 1.4050, 1.4015 and 1.3970
Resistance levels: 1.4230, 1.4275//00 and 1.4340/50
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
AUDUSD
The Aussie dollar returned above the .8150 resistance which provides minor support now. On a resume of yesterday's rally, first resistance is seen at .8200 followed by the elevated target at .8260 - recent top. Intra-day sentiment is slightly bearish due to current retracement. Support backs .8150 at .8085, .8050 and .8000. Current quote is .8151 @06:20 GMT
Support levels: .8130/50, .8085, .8050 and .8000
Resistance levels: .8200 and .8250/60
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
EURCHF
Downside is under renewed pressure as 1.5170 could not hold and the euro declined to as low as 1.5142. The daily range remains low - averaging 55 points per day. Short term sentiment is slightly bearish as a clear break above 1.5230 is needed to signal a resume of the uptrend. Important support is formed by the 1.5100 mark and it should limit the downside on extended losses. Current quote is 1.5163 @06:30 GMT
Support levels: 1.5100, 1.5050 and 1.5000/10
Resistance levels: 1.5170, 1.5235/50, 1.5300 and 1.5350
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Daily Recommended Trades
Daily technical outlook
Wed, Jul 22 2009, 06:25 GMT
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InnerFX
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