Technical Analysis
Technical Analysis
Risk appetite a tad lower with Spanish bond yield showing bottom-ish signs, S&P500 back risking to break the 1416 support and OIL lower.
FX Market Technical Research
EUR/USD: Former Sept 17 Resistance Line As Support. The pair finds support from the former Sept 17 resistance line while daily tech studies tick higher.
Asian Currencies Technicals
AUD/USD: $1.0290 Support Seen As Pivotal. The close back below the 200-DMA to end last week doesn’t bode well for the current move higher but we continue to look for a close below the $1.0290 support as confirmation of a false break higher last week.
FX Daily Majors
Today’s highlights: – EURUSD: Correcting lower from flagged trendline resistance at 1.3140. Our bias remains bullish and we expect this correction to gain traction and rebound higher from 1.3005/1.2993 support zone.
Global Technical Watch – Steady improvement
Peripheral European fixed income markets continue to show signs of strength, helping EUR crosses hold on to their recent gains. Although EUR/JPY posted a small sign of temporary stalling, USD/JPY is maintaining ground gained above its daily cloud.
Technical Analysis
EUR/USD & EURJPY slightly lower, backing off their respective trend lines. Especially the EURJPY move looks encouraging and even more so if ending today in negative territory,
FX Market Technical Research
EUR/USD: Focus Remains On May 1 Resistance Line. The pair posted a dark candle yesterday, with the possibility of becoming a dark cloud cover pattern, depending on confirmation today.
Asian Currencies Technicals
AUD/USD: Dipping Back Towards 200-DMA. Following the break to fresh three-week highs, AUD/USD is dipping back towards initial support noted at the 200-DMA although a close below the $1.0290 support is needed to confirm a false break above the 200-DMA.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Pausing for breath after the recent breakout. We remain bullish target .8157 and then .8263, however we do not rule out a brief correction lower to .8090/99.
Technical Analysis
Risk on mode remains in place. Again basically slow moves however with the greenback gaining some since yesterday whereas the euro and especially the yen having weakend somewhat. Chinese equities having a good day (so far) challenging the Sept/Oct peaks.
FX Market Technical Research
EUR/USD: Capped By May 1 Resistance Line. The pair moved up to the May 1 resistance line, but consolidated below as daily tech studies pointed the way higher.
Asian Currencies Technicals
AUD/USD: Closes Above 200-DMA. With a close above the 200-DMA needed to shift focus higher the pair now turns its immediate attention to the falling 21 day upper Bollinger band coming in around $1.0510 today.