EURUSD
Trading strategy: stand aside
Support into the 1.3950 region is formed by a rising trend line started at 1.3425 on May 18, extended through June’s lows. The euro currently tries to push on the upside, testing the intra-day resistance on the 1.4000 handle. Downside pressure is high since the euro failed to overcome the 1.4200 barrier last week. Important resistance is now seen around 1.4175 formed by a downward trend line started on the recent top at 1.4340 through last week’s high at 1.4200. Intra-day momentum is slightly positive and above 1.4000, next objective is set at 1.4100. Current exchange rate is 1.3980 @05:50 GMT
Support levels: 1.3930/50, 1.3900/10, 1.3830 and 1.3750
Resistance levels: 1.4000, 1.4050/65, 1.4100, 1.4180/00
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish
Friday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Same upward trend-line support started on May 18 seen on the euro/dollar has limited Aussie’s losses, so far, and provided a potential reversal point. A daily close above the .8000 mark is needed to confirm that the upside cycle is underway, focusing on the resistance around .8130 formed by a downward trend line extended through previous highs starting at .8260. If .7900/10 fails to hold, extended selling may target .7680/00. Current exchange rate is .7950 @05:50 GMT
Support levels: .7900/10, .7840/50, .7750 and .7680/00
Resistance levels: .8000, .8050, .8100 and .8155/85
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish
Friday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The euro continues to lose strength against the swiss franc, trading below 1.5200 at the time of this writing. A breach above 1.5250 is needed to resume uptrend while on the lower side, important support is formed by 1.5145/50. Intra-day sentiment is negative while the daily is neutral. Current exchange rate is 1.5193 @05:50 GMT
Support levels: 1.5140/50 and 1.5100
Resistance levels: 1.5200, 1.5235/50, 1.5285 and 1.5325
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Friday trading strategy: stand aside
