Technical Analysis

SEK pressure to persist. EUR eroding support

4th of July celeb’s in the US. Well eventful was perhaps an understatment…

Layers of resistance are now noted on the hourlies in the $1.3638-1.3700 region with bulls needing to see a close above $1.3700 to

EUR/USD – bearish bias – (1.3450-1.3750).

The spike higher Thursday lacked follow through, marginally trading above the 21-DMA (Sgd1.2492).

Wednesday’s correction gathered momentum with the bearish close confirming a break of the 21-DMA and rising daily channel base with

In Cable, Commerzbank it has a TD perfected set up on the 240 minute chart and a 13 count with TD resistance at 1.7205.

EUR/USD’s rejection of price from the 55 day ma at 1.3693 has been quite emphatic which

Fading within its rising channel. • EUR/USD has broken to the upside out of its horizontal range defined by 1.3503 and

EURUSD: The pair moved down to 1.3641 before bouncing back a bit.

Layers of resistance are starting to stack up on the hourly timeframe in the $1.3660-00 region with the 55-DMA noted at $1.3694.

AUD/USD was unable to better Tuesday’s 2014 highs with the sharp correction lower and relatively bearish close Wednesday of some concern to bulls.

EUR/JPY has settled back into a near-term range, but topping pressure remains in place. Below 136.23 would signal a more bearish phase for 131.20.