Technical Analysis
Dollar strength!
EURUSD: A bearish candle as a continuation pattern was added yesterday. It also persistent dynamic resistance with the 8day “Tenkan-Sen” (blue line in the chart).
Daily Market Technicals
The $1.3645-69 resistance region remains key this week with bulls needing a close above to confirm an easing of bearish pressure and see immediate focus shift back to
Weekly Forex & Interest Rate Outlook
NZD/USD Outlook: Down this week Expectations the RBNZ will signal a pause in June should continue to weigh on NZD/USD until 12 June.
Asian Currencies Technicals
After having chopped around the 21-DMA to end last week the AUD/USD took a backward step on Monday with the pair dipping back towards the key $0.9180-0.9205 support region.
Daily Technical Report
EUR/USD has broken the key support areabetween 1.3673 and 1.3643. The short-termtechnical structure calls for further weakness aslong as prices remain below the resistance at1.3669 (27/05/2014 high).
AUD turning lower. SEK weakness takes a short pause
EURUSD: On a grander scale May probably became the turning pointfor the common currency given that the monthly candlebecame a very bearish key month reversal one arguing formore losses on a 3-4 months horizon.
Daily Market Technicals
The $1.3644-69 resistance region remains key this week with bulls needing a close above to confirm an easing of bearish pressure and see immediate focus shift back to the 21 & 100-DMA’s.
Asian Currencies Technicals
Following on from Thursday’s bounce the AUD/USD spent Friday chopping around the 21-DMA ($0.9306) but remained supported ahead of the $0.9275 level.
Daily Technical Report
EUR/USD has broken the key support areabetween 1.3673 and 1.3643. The short-termtechnical structure calls for further weakness aslong as prices remain below the resistance at1.3669 (27/05/2014 high).
Daily Market Technicals
The failure to carry on with the move lower Thursday after having traded at fresh 3 month lows combined with O/S daily studies looking to correct higher is a worry for bears.
Asian Currencies Technicals
AUD/USD again found support ahead of the key $0.9176-0.9205 region with the result being a solid move higher with initial support having developed on the hourly time frame at $0.9275.
Daily Technical Report
EUR/USD has moved decisively below the short-term support at 1.3616 (23/05/2014 low), confirming the recent technical deterioration.