The Euro is softer vs the US dollar today, testing bids near the 1.4200 mark. The dollar may advance forward while the market is focused on financial sector stability and coordinated central bank action. Minor support is seen at 1.4200 backed by 1.4150 and 1.4090. Resistance starts at 1.4300 followed by 1.4390 and 1.4470. Daily momentum is slightly bullish due to the 600 points recovery but the downside is back on focus and sentiment may change soon. The hourly studies are bearish at the time of this report. Current quote is 1.4224 @06:20 GMT
EURUSD, AUDUSD, EURCHF Daily Outlook
EURUSD
The Euro is softer vs the US dollar today, testing bids near the 1.4200 mark. The dollar may advance forward while the market is focused on financial sector stability and coordinated central bank action. Minor support is seen at 1.4200 backed by 1.4150 and 1.4090. Resistance starts at 1.4300 followed by 1.4390 and 1.4470. Daily momentum is slightly bullish due to the 600 points recovery but the downside is back on focus and sentiment may change soon. The hourly studies are bearish at the time of this report. Current quote is 1.4224 @06:20 GMT
Support levels: 1.4200, 1.4150 and 1.4090.
Resistance levels: 1.4300, 1.4390 and 1.4470.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : slightly bullish
AUDUSD
The upside is aimed by the Aussie dollar which managed to breach the resistance at .8060 and is now testing the barrier at .8130. Important resistance is noticed higher, at .8235/50 and a potential break will signal a trend reversal, although it could be only a temporary rebound. Current quote is .8132 @06:20 GMT
Support levels: .8060, .7950 and .7900.
Resistance levels: .8130, .8200 and .8235/50
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
EURCHF
Short term studies are bullish and the EUR probably aims towards the 1.5940 resistance level. Support is seen at 1.5850 backed by 1.5800 and 1.5750. Resistance starts at 1.5900 followed by 1.5940 and 1.6. Current quote is 1.5876 @06:20 GMT
Support levels: 1.5850, 1.5800, 1.5750 and 1.5650.
Resistance levels: 1.5900, 1.5940/50 and 1.6
Market sentiment: long-term : bullish, mid-term : neutral, short-term : bearish
E-Forex
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