Technical Analysis
Asian Currencies Technicals
AUD/USD: The $0.9484 level confirmed as initial resistance on Friday with the pair remaining capped at this level following Thursday’s bounce from the 21-DMA ($0.9395).
Strong signs of more sek weakness going forward
EUR/USD: The market failed to make the outlined 1.3462 test (andbreak) and instead, after an early and failed attempt tobreak 1.3485, bounced back mid range.
Daily Market Technicals
EUR/USD failed to close below the 21-DMA – still a key support level at $1.3505 but bulls are currently testing the 5-DMA at $1.3547, initial res.
Sell GBP and CAD. USD/NOK bull flag ready to go
EUR/USD: So far the market is following the textbook step by step.False range breaks (last week ended with an up thrust peakabove 1.3569) have a strong tendency of
Daily Market Technicals
EUR/USD descends through the 23.6% at $1.3518 to test the 21-DMA as support – now initial support at $1.3493.
Asian Currencies Technicals
AUD/USD traded sideways on Wednesday with the pair little changed from the previous NY close. We continue to look for a break back below the 21-DMA ($0.9380) to
JPY, CAD, SEK & EM (ZAR & TRY weakness)
EUR/USD: There is a near-term tilt to the downside which would grow in strength on a move below 1.3538. But so far sellers lack the impetus to exit lower in line with the most recent benchmark candle.
Daily Market Technicals
EUR/USD pushed up to test just above $1.3600 yesterday and today also; this left a long upper shadow yesterday and may do today as well.
Asian Currencies Technicals
AUD/USD traded at fresh 3wk highs after breaking above the previous $0.9458 resistance.
Markets look contained in the wake of the U.S. budget stalemate
EUR/USD: Action was lukewarm, at best, yesterday. But with the market staying below Fri’s mid-body point of 1.3590there is a near-term downside tilt.
Daily Market Technicals
EUR/USD recouped some of the losses from the bearish engulfing candle which still awaits confirmation despite the bearish daily studies.
Asian Currencies Technicals
AUD/USD continues to pause ahead of the $0.9458 resistance level with initial support now noted on the hourly timeframe at $0.9365.