Technical Analysis
Daily Technical Report
EUR/USD rose significantly yesterday.However, we continue to favour an eventualdecline towards the support at 1.3503 as long asprices remain below the resistance at 1.3664(03/07/2014 high).
AUD finally turning lower? NOK/SEK turning higher?
The greenback and US bond yields fell after Fed minutes. CRB index and oil continued its decline and
Daily Market Technicals
After having found support on dips below the 21-DMA the past two days Wednesday’s rally sees immediate focus on layers of resistance $1.3669-1.3733.
USD/CAD Techincal Analysis
USD/CAD’s decline has so far taken it to a July low at 1.0622. It was made marginally above the 1.0621/1.0568 support zone from where it is currently bouncing back.
NZD/USD Techincal Analysis
NZD/USD’s ascent seems to be unstoppable with it now having overcome the June high at .8795.
AUD/USD Techincal Analysis
AUD/USD sold off to and is recovering from the 55 day ma at .9339. Having severed the 2014 uptrend last week,
Asian Currencies Technicals
Bears continue to dominate with fresh 2014 lows retaining immediate focus on Sgd1.2342 Oct 2013 monthly low.
Aussie Currencies Technicals
The correction higher from last week’s test of the 55-DMA continued on Wednesday but the AUD/USD has been unable to
EUR/AUD – Above 1.4343/1.4264, the upside remains wide open
Having only marginally overshot the projected 4th wave target at 1.4430 (int. 38.2 %) we still see
EUR/GBP – The range breakout at 0.7959 is now targeting 0.7755/44
With the latest break below key-pivotal support at 0.7959 we see the internal 76.4 % retreatment at 0.8005 as
GBP/USD – Above 1.6996, the bulls remain in control and 1.7332 in focus next
Having finally managed to break decisively above key-pivotal resistance 1.7044/49
EUR/USD – Above 1.3557/37 the bounce risk remains high
The failure to even come close to 1.3877 (minor 76.4 %) and the following break below hourly trend line support