Technical Analysis
Daily Technical Report
EUR/USD declined further yesterday and isnow close to the key support at 1.3673 (see alsothe wedge formation). Given the recent sharpdecline, a short-term phase of stabilisation islikely.
Daily Market Technicals
After having found support ahead of the 100-DMA to start the new week the EUR/USD finally managed the first close below the 100-DMA since Feb which adds weight to the bearish case and
Daily Technical Report
EUR/USD is trying to stabilise after its recentsharp decline. Resistances for a short-termrebound are given by 1.3812 (02/05/2014 low)and 1.3871 (intraday high, see also the 50%retracement).
EUR/USD offers likely at 1.38 and USD/JPY sellers should act at 102.40
EUR/USD: EUR/USD trades with resistance at 1.3800 in mind. USD/JPY should test 102.36-102.41 but encounter offers there
Daily Market Technicals
EUR/USD continues to find support ahead of the 100-DMA with a close below the 100-DMA not seen since early Feb. Initial resistance is now noted at Monday’s $1.3775 high with
Asian Currencies Technicals
After making headway above the 21-DMA ($0.9322) the AUD/USD is pausing at the $0.9395 resistance level. Initial support is now noted at the $0.9348 May 9 low with bears needing a close below to ease the bullish pressure.
Daily Technical Report
EUR/USD has declined sharply after its bearishreversal near the key resistance at 1.3967. Thesupport at 1.3780 has been broken. A keysupport lies at 1.3673 (see also the rising wedge).
€/$ bearish follow through. NOK/SEK still higher
EUR/USD: After a minor bounce the pair continued its descent. Thedownside exit from the rising wedge has set 1.3295 as aviable first hand target for the decline.
Daily Market Technicals
The sharp move lower to end the week and the close below the $1.3771 previous support has seen immediate focus shift to the 100-DMA which is currently supporting.
Asian Currencies Technicals
The $0.9319 support continued to hold this morning with the AUD/USD bouncing off $0.9349 low, while moves higher have been capped ahead of $0.9395.
Daily Technical Report
EUR/USD made a sharp bearish intradayreversal near the key resistance at 1.3967yesterday. The support at 1.3865 (05/05/2014low) has been broken, negating the short-termbullish momentum.
Strong rejection from the $ key support. NOK stronger
EUR/USD: The minimum target, a move above 1.3967, was yesterdayachieved however falling short of our ideal target, the wedgeceiling at 1.4020.