Technical Analysis
Risk rally, tortoise-style
Softer Chinese data are probably not soft enough to de-rail the risk rally * Asian data and news grabs overnight headlines. The Bank of Korea left rates on hold after last month’s surprise cut, and the won gained slightly. Chinese data come out slightly softer than expected as the slowdown continues.
Asian Currencies Technicals
AUD/USD: Starting to look a little tired. Failure by the AUD/USD to retest the Aug 7 highs on yesterday’s bounce combined with overbought daily techs looking to correct could be hinting at a pullback.
FX Daily Crosses
Today’s highlights: * EURGBP: Coiling sideways ahead of the 55-day average placed at .7969. A break above here sees risk up to .8013.
Technical Analysis
AUD/NZD breaking higher, NOK/SEK firming… EUR/USD Another neutral doji candle… AUD/NZD Returning upside pressure… EUR/SEK 8.3025 support intact… NOK/SEK Breaking higher… EUR/NOK Mid body support cleared… EUR/PLN Watch the 4.0855 resistance.
Asian Currencies Technicals
AUD/USD: Daily tech studies overbought. The AUD/USD continues to set fresh 4 month highs on a daily basis as it tests the rising daily channel top and rising 21 day upper Bollinger band ($1.0634).
Technical Analysis
€ & other corrections running out of steam… EUR/USD Encouraging doji candle… USD/CAD A possible bullish setup… EUR/JPY Eyeing the mid body point… EUR/SEK Sellers close to the 8.38 res… USD/SEK An area worth watching… EUR/NOK Watching the mid body point… USD/PLN In the primary target zone.
FX Market Technical Research
EUR/USD: Tests Fibonacci Level. The euro tested Fibonacci level at $1.2445 before pulling back within the Bollinger band. The daily studies are firm, but further Fibonacci resistance stands at $1.2478 and $1.2539, while the 5 & 21-DMAs turn support at $1.2319 and $1.2253.
Asian Currencies Technicals
AUD/USD: Fresh 4 month highs. Tests of the sharply rising 21 day upper Bollinger band nd daily channel top continue with initial focus on Mar 19 highs.
Technical Analysis
Extended corrections… EUR/USD 2nd attempt to form a peak… USD INDEX Spiking below the band?… EUR/JPY Ending another correction… EUR/SEK Easing the “stretch”… EUR/NOK Double low?… NOK/SEK Hovering above the line… EUR/PLN Broke to a fresh yearly low.
FX Market Technical Research
EUR/USD: Pressuring Bollinger Band, Fibonacci Level. The euro is back testing the top of the Bollinger band as bulls also face Fibonacci resistance at $1.2445 and $1.2478. The 5 & 21-DMAs turn support at $1.2245/95.
Asian Currencies Technicals
AUD/USD: 21 day upper Bolli tests to continue. The pair continues to test the sharply rising 21 day upper Bollinger band with the Mar 19 highs the initial focus and then the 2012 highs from Feb 29 above that.
Technical Analysis
Hello Mr. Riskoff – ECB failed to deliver what was “demanded”… EUR/USD A correctional high in place… EUR/GBP Correctional high at resistance… EUR/SEK Lower yes, but also “wedgy”… USD/SEK Weak attempt under support… EUR/NOK Fresh low likely… NOK/SEK Could correct the stretch.