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Aussie Currencies Technicals

Friday’s bullish close resulted in further gains to start the new week before

EUR/USD: Momentum strongly pro-decline, but euro significantly oversold. Likelihood of correction increasing.

Brent oil falling to fresh lows of $48.47 and the spread between Brent and WTI narrows to just $1.5;

Like the Dollar, the Euro has recently showed some counter trend action on

While the Swiss managed a noted upside attempt overnight,

It would appear that the flight to quality flow back toward the Yen has run its course and

Not surprisingly the Dollar is officially overbought from the COT report with

The Canadian remains pinned to its lows this morning as weaker oil and

A rise in volume and open interest in the wake of the recent bounce

Markets bet on CZK devaluation ahead of CNB’s meeting.

EUR/USD bounced on Friday. Hourly resistances can be found at 1.1897 and 1.1976.

EURUSD: After selling was halted at the support line the market has begun at