EUR Trading Outlook (20-02-2014)

AUD/USD: The pair broke the 10DMA and the daily cloud base of 0.8981 was challenged. The doji on 18th of Feb showed a downside move and was followed through out the next day, keeping the bulls worried. A break of 0.8970 would help bears gain more confidence and more likely 0.8905 (key support) be tested.

EUR/USD: The daily chart showed a doji forming near the Jan high, RSI diverging and spread narrowing will make bulls panic. Short term resistance at 1.3775 and support near 1.3675 (cloud top, 10DMA, 2/14 low). A break through it would lead to correction from recent rally.

GBP/USD: Cable remain weak as UK jobs data showed an increase to 7.2% (previous 7.1%). Initial support at 1.6670 & 1.6630. Pivot at 1.6735.