Technical Analysis

Cutting to the Quick

With the Reserve Bank sounding less convinced about lifting its policy cash rate any further,

EUR/USD is approaching the key support at1.2501.

EURUSD: The pair yesterday initially fell down to 1.2545 beforerebounding back up to recheck (and validate?)

Time spent above the 21-DMA was brief with the sharp reversal lower reconfirming bearish pressure and

EUR/USD declined sharply yesterday. Thebreak of the support at 1.2614 calls for a test ofthe recent lows at 1.2501.

EURUSD: The minor bear flag (following the exit of the larger one)finally came to

Time spent above the 21-DMA was brief with the sharp reversal lower reconfirming bearish pressure and

EUR/USD has breached the hourly resistance at1.2743, suggesting some increase in buyinginterest.

EURUSD: Even though our call yesterday for a potentially completedupward correction was proven wrong we continue to

Despite the lack of follow through on the break above $1.2742 bulls will retain the upper hand while the 21-DMA supports.

EUR/USD is grinding higher towards the hourlyresistance at 1.2743. A break of this level isneeded to

EURUSD: Yesterday’s rise to 1.2723 might very well have been thefinal move higher in