Technical Analysis

Daily Technical Report

EUR/USD continues to move within thehorizontal range defined by 1.3503 and 1.3677.Yesterday weakness was met with buyinginterest.

EURUSD: Basically all intraday initiatives fails (spikes on both sides)and yesterday were no exception trying lower but

EUR/USD continues to hint at a retest of the 200-DMA following the bounce from Thursday’s lows below the 21-DMA ($1.3596).

AUD/USD extended gains following on from Wednesday’s bounce from the 21-DMA. Initial support is noted at $0.9396 with

As the big picture below shows the market is currently testing key-support between 1.4582 and

Having already exceeded the internal 76.4 % retreatment at 0.8005 quite a bit, chances of running into

Starting to back off from key-pivotal resistance 1.7044/49 (2009 high/2005 low) the risk of having marked an

The market has finally managed to trade away from key-support at 1.3477 (2014 low) which supports

In USD/JPY, Commerzbank notes has sold off to its 200 day ma at 101.67.

EUR/USD has started to erode nearby resistance levels, notes Commerzbank.

EUR/USD continues to grind higher within thehorizontal range defined by 1.3503 and 1.3677.Monitor the test of the hourly resistance at1.3644.

EURUSD: The attempt to rise above the 1.3644 resistance was sooncaptured and the market thereafter returning back into itsprior range.