Technical Analysis
Daily Market Technicals
After having failed to close above the 21-DMA on recent attempts bearish focus has re-emerged with the result being a move lower that firmly has the 2014 lows in its sights.
Asian Currencies Technicals
AUD/USD continues to grind its way higher with bulls in control as evidenced by the higher daily highs and lows.
Daily Technical Report
EUR/USD made a bullish intraday reversal on 5June. However, the lack of follow-through andthe current deep retracement suggest persistentselling pressures.
EUR/JPY could guide EURUSD lower. NOK/SEK trades higher
EURUSD: Sideways with a downside tilt. Buying above 1.3678 never materialized yesterday. The market instead went into a low session close after constant grind lower through the day.
Daily Market Technicals
ERU/USD managed another brief pop above the 21-DMA but fell short of last week’s high before heading sharply lower and managing a relatively bearish close.
Asian Currencies Technicals
AUD/USD started the new week with fresh highs and initial support now noted at Friday’s low. Bears need a close below Friday’s low to
Daily Technical Report
EUR/USD made an intraday bullish reversal lastThursday, indicating exhaustion in the short-termselling pressures. Resistances can now be foundat 1.3688 (22/05/2014 high) and 1.3734(19/05/2014 high).
€uro rebound seen continuing
EURUSD: Thursday’s spring bottom and key day reversal shouldcontinue to underpin upside attempts and
Daily Market Technicals
The EUR/USD popped above the 21-DMA ($1.3660) before closing back below and consolidating below to start the new week.
RBNZ Unlikely To Erase Its July Hike View
We remain of the view the Reserve Bank will stay on the tightening path it indicated at the time of its March Monetary Policy Statement (MPS) and which it did nothing to deny at its April announcement.
Asian Currencies Technicals
AUD/USD followed up Thursday’s rally and close above the 21 &55-DMA’s with fresh highs for the week and consolidation at the upper end of the weekly range.
Daily Technical Report
EUR/USD made an intraday bullish reversal onThursday, indicating exhaustion in the short-termselling pressures.