EURUSD
Trading strategy: stand aside
The euro maintains its bid tone against the dollar ahead of the Fed’s Interest Rate Decision later today, which is widely expected to hold the benchmark interest rate steady at 0.25%. Yesterday’s close above the 1.3 handle may stimulate further upside action, aiming towards first important resistance at 1.3070/90. Other important barriers are seen above 1.3090 at 1.3330 and 1.3590. On the downside, minor support is formed at 1.3000 backed by 1.2930/50 and 1.2850. Daily momentum will remain positive as long as support at 1.2850 is intact. Current exchange rate is 1.3014 @07:40 GMT
Support levels: 1.3000, 1.2950, 1.2850 and 1.2700.
Resistance levels: 1.3070/90, 1.3200 and 1.3330.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: small long at .6500, initial stop at .6460, objective at .6570. Adjust stop to breakeven on +30 pips (at .6530) if reached.
The aussie dollar continues to trade into a narrow range below key resistance at .6535/50 formed by the 61.8% retracement of the last downward move from .6850 to .6285. A potential break of the said barrier should open .6850, February’s high. Support is now formed at .6550 backed by .6500 and .6430. Daily sentiment is bullish and will remain intact while support at .6500 holds. Intra-day momentum is neutral at the time of this writing. Current exchange rate is .6605 @07:40 GMT
Support levels: .6550, .6500, .6450 and .6395/00.
Resistance levels: 6635/50, .6730 and .6850.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Resistance at 1.5440/50 has limited the upside on yesterday and the pair is now pulling back towards support at 1.5310/30. Important support is formed into the 1.5150/90 region and the upside will remain under pressure as long as the said support won’t be affected by an extended decline. Intra-day momentum is negative at the time of this writing. Current exchange rate is 1.5350 @07:40 GMT
Support levels: 1.5310/30, 1.5290, 1.5150/90 and 1.5000.
Resistance levels: 1.5440/50, 1.5500/30 and 1.5590.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
Yesterday trading strategy: small short at 1.5530, initial stop at 1.5570, objective at 1.5460. Adjust stop to breakeven on +30 pips (at 1.5500) if reached : 0 (entry not reached)
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