EURUSD
Near term momentum remains bearish despite yesterday's rebound to 1.3770. The Euro has yet to build solid support above the 1.3690 mark in order to signal a change on the daily bias. Until then, rallies are expected to be sold, keeping the downside under pressure. However, key support which is seen at 1.3450 provides an intraday bullish view on current market conditions while it is intact. Below 1.3450 the decline should accelerate towards the 1.32 zone and below. Strong resistance is formed into the 1.3770-1.38 region followed by 1.3880 higher. Intraday studies are mixed. Current quote is 1.3613 @06:40 GMT
Support levels: 1.3540/50, 1.3500/10 and 1.3430/50.
Resistance levels: 1.3690/00, 1.3770/00 and 1.3880.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
AUDUSD
The Aussie failed to hold its gains above the .7100 mark on yesterday but the retracement to .6875 doesn't fully affect the short term studies which are likely to turn on the upside if the pair manages to advance higher past .7100 and form a decent support. Resistance follows .7100 at .7250 and .7330/40. Important support is formed at .6875 and .6785 which is the 50% retracement of the last upward swing. Below these two support levels, downtrend should resume. Intraday studies are slightly bullish at the time of this report. Current quote is .7005 @06:40 GMT
Support levels: .6930, .6875 and .6785.
Resistance levels: .7100, .7250 and .7330/40.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
EURCHF
Intraday resistance is seen at 1.5500 followed by 1.5560, 1.5615 and 1.5650/60. Support starts at 1.5425 backed by 1.5340. Intraday studies are bullish and will remain so while support at 1.5425 is intact. A sustained break of 1.5500 should extend gains past yesterday's high at 1.5555, aiming towards 1.5615. Current quote is 1.5465 @06:40 GMT
Support levels: 1.5425, 1.5400, 1.5340 and 1.5150.
Resistance levels: 1.5500, 1.5560, 1.5615 and 1.5650/60.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
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