In these days, a man who says a thing cannot be done is quite apt to be interrupted by some idiot doing it. ~ Elbert Hubbard
Good morning. The euro continues decline, being set for the biggest weekly loss this year, while the dollar is testing fresh highs – after a minor correction from 81.70 to 81.
Psychological barrier at 1300 remains intact and seems rather strong so far, hence I believe that a correction towards 1340 is likely
New resistance is now formed at 1.2600/25 as seen below.
Support formed between .9520 and .9550 is being tested as USD pulls back after reaching a fresh multi-month top. I am bullish on USDCHF, expecting buyers to remain in control
Perhaps it is time for a correction after such a strong decline. Last two recoveries at 27 suggest that a temporary bottom is being formed. Anyway, buying it is probably a good idea only on a break above 28.80/00
More downside is in the cards after the 2 failed tests of 1.300. Important support is at 1.2780/00 – not too far from here
Support around 1.2900/15 is being tested as AUD turns slightly bearish. 1.2850 should be next support to keep an eye on if 1.29 breaks
It’s been a strong sell-off and it doesn’t seem there are many cable buyers around 1.5650. Recent upside pullback, from 1.5730 to 1.5830 was rather weak, not fulfilling my plan to buy on potential break of 1.5840/50.
have a great weekend