EURUSD
Trading strategy: long at 1.3930, initial stop at 1.3870, objective at 1.4045. Adjust stop to breakeven on +30 pips (at 1.3965) if reached
Intra-day support is now formed on the 1.3900/20 level as the euro managed to recover initial losses on yesterday. While holding above 1.3900, the upside will remain favored and the resistance on the 1.4000 handle should stay on focus. A breach above 1.4000 would open 1.4135 which is the next important upside objective. On the lower zone, support backs 1.3900 at 1.3820/30 and 1.3750/75. Intra-day sentiment is bullish while the daily studies are slightly bearish. Current exchange rate is 1.3964 @06:20 GMT
Support levels: 1.3900, 1.3820/30, 1.3750/75 and 1.3700
Resistance levels: 1.4000, 1.4050 and 1.4120/35
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
Yesterday trading strategy: long at 1.3920, initial stop at 1.3870, objective at 1.4000. Adjust stop to breakeven on +30 pips (at 1.3950) if reached : -50 pips
AUDUSD
Trading strategy: stand aside
Downside remains under pressure as the pair still trades below the .8000 mark, 100 points above important support formed at .7850. The double top formation at .8235/60 suggests further downside action but the entire move to .7850 seem corrective, this being also the 50% retracement of the last up leg from .7450 to .8260. Intra-day studies are slightly bullish and a climb above .8000 seem possible. Current exchange rate is .7953 @06:20 GMT
Support levels: .7900, .7850/55, .7800 and .7760
Resistance levels: .7960/70, .8000 and .8050
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The euro continues to face strong selling demand on its weak attempts on climbing higher against the swiss franc. Downside bias remains valid as long as the pair trades below 1.5150/60. Above the said resistance, next important barrier is emerging at 1.5225/30. On the downside, major support is seen at 1.5000/10. Current exchange rate is 1.5079 @06:20 GMT
Support levels: 1.5050, 1.5000/10 and 1.4950
Resistance levels: 1.5100, 1.5150 and 1.5225/30
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Yesterday trading strategy: stand aside
