Technical Analysis

Daily Technical Report

EUR/USD has broken the key support areadefined by 1.3503 (see also the long-term risingtrendline from the July 2012 low) and

Fresh 2014 and 8 month lows continued for the EUR/USD this morning with immediate focus having shifted to the $1.3400-21 region

The Sgd1.2446-57 region confirmed its significance as resistance last week with previous highs, the 21-DMA,

AUD/USD managed a spike above the 21-DMA Tuesday but has so far lacked follow through with the pair closing marginally below the 21-DMA ($0.9396).

AUD/NZD’s bounce from the current July low at 1.0616 has taken it out of its bullish wedge formation to the current July high at 1.0840.

USD/CAD’s is still bouncing off its current July low at 1.0622 which was made within the

NZD/USD’s ascent has come very close to the .8845 2011 peak before failing at the current July high at .8836.

EUR/USD made an intraday bullish reversalnear the key support at 1.3503 (see also thelong-term rising trendline from the July 2012low) on Friday.

EUR/USD looks uninteresting between 1.3491 & 1.3576… EUR/GBP may have printed a correctional peak – a move back under 0.7904 would confirm…

Bulls take a little comfort in support having developed at $1.3513 Monday but layers of resistance remain $1.3549-87.

NZD/USD Outlook: Down this week NZD/USD has been hammered by surprises lately.

The $0.9322 support confirmed its significance last week with the AUD/USD having bounced from ahead of this level on Wednesday and Friday.