- EURUSD
Yesterday’s rally into the 1.4230/50 resistance zone occurred as anticipated and the said resistance is still valid. The euro holds steady, consolidating throughout the Asian trading session into a narrow range below 1.4250. The daily chart shows that we have yet to overcome 1.4300 to re-establish uptrend. Watch for the entire 1.4300-1.4350 region to provide resistance on rallies. Upside is likely to remain favored for now – in case of pullbacks, the 1.4140-1.4175 region will probably provide support and limit losses. Current quote is 1.4243 @06:20 GMT
Support: 1.4200/15, 1.4175, 1.4140 and 1.4070
Resistance: 1.4250/80, 1.4300, 1.4330/50 and 1.4400
- AUDUSD
Resistance into the .8315 formed by the 50% retracement of the .8475-.8155 move is under pressure at the time of writing this. The whole .8315-.8355 region is expected to provide a selling point but it seem to be a hazardous scenario as the short term charts show signs of recovery especially due to yesterday’s reversal on the .8175 support. A continuation of current recovery may bring the top side of .8450/75 on focus. Current quote is .8313 @06:20 GMT
Support: .8250, .8200 and .8150/75
Resistance: .8315, .8355, .8400 and .8450/75
- USDJPY
The Japanese yen continued to strenghtened against the dollar on yesterday but switched direction after reaching 93.65. Since the daily close was not below 94.00, current recovery has been initiated. First resistance comes at 95.00 and a potential breach will favor further upside action towards the 95.50/75 region, where bears are expected to renew shorts. Current quote is 94.39 @06:20 GMT
Support: 94.00, 93.65 and 93.00
Resistance 95.00, 95.50/75 and 96.00
