Technical Analysis
Daily Market Technicals
The spike to fresh 2014 highs was sharply reversed on Thursday with the relatively bearish close back below the 21-DMA ($1.3842) easing bullish pressure and seeing immediate focus shift back to the $1.3771 low from last week.
Asian Currencies Technicals
The $0.9319 support confirmed significance Thursday with the AUD/USD bouncing from this level and the move higher pausing ahead of $0.9395.
Daily Technical Report
EUR/USD has thus far failed to break the keyresistance at 1.3967. However, the short-termtechnical structure is positive as long as thesupport at 1.3865 (05/05/2014 low, see also therising channel) holds.
The dollar is approaching key support levels.
EUR/USD: The slow slide back to the mid body point, 1.3905, ofWednesday’s bullish candle is probably enough correctionso for today focus will be on a resumption of the climb.
Daily Market Technicals
The $1.3889-1.3905 region continues to support the EURUSD with immediate focus remaining on the $1.3967 2014 high until a break lower is seen.
Asian Currencies Technicals
AUD/USD consolidated Wednesday and briefly dipped below the 21-DMA before finding support at $0.8319. Bears need a close below to confirm a break of the 21-DMA and
Daily Technical Report
EUR/USD has broken to the upside out of itsrecent consolidation between 1.3780 (09/04/2014low) and 1.3906 (11/04/2014 high), opening theway for a test of the key resistance at 1.3967.
Intraday Outlooks For EUR/USD, USD/JPY, GBP/USD, USD/CAD
EUR/USD: Prior resistance just over 1.39 is converted into presumed support with a mid-body point now contributing to this thought.
Daily Market Technicals
The move higher continued for the euro on Tuesday with it making fresh 2 month highs by 3 pips. Immediate bullish focus remains on retests of the 2014 high with
Asian Currencies Technicals
AUD/USD has finally taken out the 21-DMA with this level seen as initial support and bears now needing a close back below to signal a false break higher and shift focus back to the $0.9202-47 region.
Daily Technical Report
EUR/USD continues to consolidate after its risefrom 1.3673 (04/04/2014 low) to 1.3906(11/04/2014 high). The technical structureremains supportive as long as the support at1.3780 (09/04/2014 low) holds.
USD/JPY trades with focus on 101.85. SEK looks offered still
EUR/USD: It was a non-performing session yesterday, but few seemedinterested to bearishly distance resistance at 1.3890\1.390and until sellers start to convince again,