Technical Analysis
Technical Analysis
It’s all about the EU summit. Technically no changes only an opportunity to get in at better levels we think. EURUSD look for offers around 1.2625, same for AUDUSD around 1.0170,
FX Market Technical Research
EUR/USD: Recovers 21-Day Moving Average, Fibonacci Level. The euro makes a sharp recovery over the $1.2500 5-DMA and $1.2545 21-DMA to test a 61.8% retracement of the pullback from 18 June, at $1.2618.
Asian Currencies Technicals
AUD/USD: Focus remains on lower levels. With the AUD again rejected on a bounce, this time ahead of the spike low from June 20, initial focus remains on tests of the 21 day MA and then potentially the 2012 lows.
Technical Analysis
Not much to report except our bullish NOK/SEK call been proven wrong with the 1.1715 break. Other than that corrections/congestions still ongoing but seen as being in the latter stages.
Asian Currencies Technicals
AUD/USD: Struggling to regain lost ground topside. A relatively subdued day for the Aussie yesterday with it struggling to surmount the $1.0080-90 region.
Daily FX Technical Strategy: A growing sense of foreboding
Investors are watching and waiting ahead of the EU summit later in the week. What movement there is in markets suggests that expectations are becoming more pessimistic.
FX Trends daily (FOCUS: EUR/NZD)
EUR/NZD After breaking below a support at 1.6060 (short-term support trend line) two weeks ago, the EUR/NZD has extended its downtrend and has validated the bearish scenario after the break below 1.5820 (April 2012 low pivot) yesterday.
Technical Analysis
Only limited moves seen overnight and the market seems to have entered a short term congestion. EUR selling/USD & JPY buying is however expected to soon be resumed.
FX Market Technical Research
EUR/USD: Holds Under 21-Day Moving Average. The euro recently saw a bear-cross in the daily stochastic study and now slides under the 21-day moving average at $1.2532.
Asian Currencies Technicals
AUD/USD: $1.0140 the level to watch topside today. Retests of the 21 day MA and then the June 8 lows beneath currently remain favoured until the AUD can manage to close back above the $1.0140 spike low from June 20 that is expected to cap on bounces.
Currency Weekly: Fight bias, fight prejudice: buy the yen
The consensus is constantly looking for USD-JPY to rise. This has fostered a prejudice that interprets most breaking Japanese news in terms of potential adverse implications for the JPY.
FX Trends daily (FOCUS : USD/CHF)
USD/CHF Yesterday, the USD/CHF cleared a resistance at 0.9598 (upper bound of a short-term bearish channel). This signals an acceleration of the uptrend towards 0.9769 (June 2012 high).