Technical Analysis

Daily Technical Report

EUR/USD is close to the key resistance at1.3739. Hourly supports are given by 1.3657(intraday low) and the short-term rising channel(around 1.3616).

NOK/SEK still liked higher. USD/CAD ending reaction?

EUR/USD: An attempt to put a peak in place Friday afternoon hastoday been replaced by renewed buying hence keeping the1.3740 resistance in the crosshair.

Daily Market Technicals

EUR/USD holds above the former channel top thanks to a strong Friday session. The daily studies remain bullish but now nearer overbought. Resistance is now in the $1.3739/1.3818 region from

Weekly Forex & Interest Rate Outlook

The recent improvement in global sentiment has supported the NZD. A continuation of this theme should push it higher to 0.8430 during the week ahead.

Markets Outlook – Household Heat

This week’s data are off to a positive start in the form of this morning’s quarterly retail sales report, the Performance of Services Index (PSI) and the BNZ survey of residential REINZ agents.

Asian Currencies Technicals

The sharp correction lower for the aussie on Thursday found support at the 55-DMA with daily tech studies now looking to correct lower from very overbought levels.

EUR/USD rose sharply yesterday and hassucceeded in making higher highs. Monitor thekey resistance at 1.3739. Hourly supports aregiven by 1.3657 (intraday low) and the short-termrising channel (around 1.3595).

Continued yen buying. Watch cable resistance

EUR/USD: Yesterday’s attempt to trace out a peak was proven wronggiven the break of 1.3655. The minimum target for thefollowing move, 1.3684+, has been fulfilled however the risedoes so far look incomplete.

Daily Market Technicals

EUR/USD rebreaks the channel top to close above the high from Feb 11, daily studies remain bullish but now nearer overbought. Resistance now at the $1.3700 level from a number of daily highs and lows,

Daily Technical Report

EUR/USD significantly weakened yesterday,suggesting a pickup in selling pressures. A breakof the hourly support at 1.3552 would open theway for a further decline towards the support at1.3477.

Sell AUD – buy JPY. NOK/SEK liked higher.

EUR/USD: The corrective bounce from yesterday’s low point isexpected to turn down from the 1.3620/30-area and shouldaccordingly be sold with a stop above 1.3655.

Daily Market Technicals

EUR/USD closed within the falling channel but bulls already testing the top as initial res at $1.3618 – break above could resume tracking higher, however failure at channel top increases downside risk.