Technical Analysis
Asian Currencies Technicals
AUD/USD: Pauses ahead of key resistance. The AUD/USD put in an inside day to end the week last week and opens below initial support to start the new week.
Daily FX Technical Strategy: Pushing the boundaries
As we move deeper into the summer holiday doldrums, the major FX markets are drifting within clearly defined ranges. However, things are slowly coming to a head.
Technical Analysis
EURUSD is still in its correctional drift higher, but it is likely to end soon with Spanish 10y yield (& spread to Germany) fast rising/widening… This is also good news for Bunds, soon breaking the recent 145.97 high…
FX Market Technical Research
EUR/USD: Recovery in Daily Studies. The EUR still sees a recovery in the daily stochastic study. However, bulls need to recover the 21-DMA of $1.2390 to re-establish themselves.
Asian Currencies Technicals
AUD/USD: Move higher continues. Fresh 2-mth highs continue as the AUD/USD heads towards the initial target at $1.0474. Back below the 200 day MA is needed to shift focus lower once more and while we remain above overall focus shifts to tests of the 2012 highs.
Technical Analysis
Commodity FXers (AUD, NZD & CAD) are standout winners together with SEK and a little surprisingly also JPY… The latter has violated a 78.61 “B-wave low” which suggests extension to/below 77.65
FX Market Technical Research
EUR/USD: Recovery in Daily Studies. The pair holds atop the 5-day moving average at $1.2275, amid a recovery in the daily stochastic study.
Asian Currencies Technicals
AUD/USD: Focus now on April monthly highs. Break to fresh 2-mth highs o/n saw the pair pause at the 61.8% Fibonacci retracement of the move from 2012 highs to 2012 lows.
Technical Analysis
EUR/SEK likely headed into a fresh yearly low… EUR/USD Yet another buyers’ response… EUR/GBP Time ripe for a bounce higher… USD/CAD Extending the correction lower…
FX Market Technical Research
EUR/USD: Signs of Recovery in Daily Stochastic Study. The EUR recovers the 5-DMA, which turns initial support at $1.2260, amid some early signs of a potential recovery in the daily stochastic study.
Asian Currencies Technicals
AUD/USD: Very bullish NY close. The pair ended the overnight session on a bullish note and just below the July 5 highs with stops noted above.
Technical Analysis
No big changes from yesterday… USD sellers respond to intraday rallies so the correctional theme may linger for some time yet… Best using this opportunity seems to be the pound and the aussie which holds tests of 1.5723 & 1.0330 (1.0475) possible…