EURUSD
Trading strategy: long at 1.2960, initial stop at 1.2910, objective at 1.3085. Adjust stop to breakeven on +30 pips (at 1.2990) if reached.
Minor intra-day support is formed around 1.2915 by a rising trend line started at 1.2885 on Monday, extended through yesterday’s lows. On a potential recovery, the euro will face interim resistance at 1.2990/00 – yesterday’s high – then 1.3085, 1.3140 and 1.3185/00 higher. Intra-day momentum is neutral but above 1.2960 will turn positive. Daily sentiment is bearish and a break above 1.3250 is needed to resume uptrend and confirm that the decline into the 1.2890/00 region was corrective. Current exchange rate is 1.2943 @06:05 GMT
Support levels: 1.2915, 1.2890/00, 1.2830 and 1.2750/60.
Resistance levels: 1.2960, 1.2990/00, 1.3085/00, 1.3140 and 1.3185/00.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bearish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Aussie recovered on yesterday but the upside has been limited into the .7130/50 resistance region. Daily sentiment remains bearish due to the collapse below the .7200 mark and the intra-day charts are bearish as well at the time of this writing due to the overnight decline to .7025. The decline to .7025 is probably corrective as the 61.8% retracement of the .6975-.7230 up leg is formed at .7033. A potential break above .7130 will resume uptrend, aiming to .7230 later. Current exchange rate is .7047 @06:05 GMT
Support levels: .7025/35, .6970 and .6815/40.
Resistance levels: .7130, .7180 and .7230.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : slightly bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Minor support is seen around 1.5085 formed by a rising trend line started at 1.5060 on April 1. Daily sentiment is slightly bearish and a break above 1.5290/00 is needed to resume uptrend. Hourly momentum is bullish and the recovery may bring the resistance at 1.5150 on focus. Above 1.5150, next objective is seen at 1.5235. Current exchange rate is 1.5120 @06:05 GMT
Support levels: 1.5085, 1.5000/15 and 1.4930.
Resistance levels: 1.5150,1.5235, 1.5300, 1.5350 and 1.5445/50.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
