EUR Trading Outlook Archive

The market is looking to test hourly lows near .9440 and the next AUD/USD support levels below there are at .9420 and .9390 (see chart). The medium-term trend is bullish but the short term trend is bearish. I still have a strong bias towards buying-big-dips… Read more

The break below Fibo support at .9460 (albeit a marginal one so far) has the overall picture looking slightly more bearish and selling rallies back towards the previous pivot at .9520 makes excellent sense (see chart).

The clean break below .9520 has given the dailies a more bearish feel and this level now provides initial intraday resistance. There is some decent technical support nearby at .9460 (see chart) but a clean break below there opens the way for .9350 at least.

Previous highs and a 50% retracement level will offer strong support near .9520 (see chart) and a clean break below there would suggest that the top near the 200-dma is a strong one indeed. Resistance levels are firming on the short-term charts near .9620.

The important technical levels are very clear to see on the daily (see chart) with support now at previous resistance levels near .9510/20 and resistance at .9715/40. Patience is required inside of this range and the shorter-term support/resistance levels are now to be found at… Read more

The main level to watch now in AUD/USD will be previous highs at .9520 (see chart) but with the 200-DMA forming a very strong cap, I expect the rally-sellers to win out in the short-term and that we do indeed get a test of this… Read more

The 200-DMA near .9750 is emerging as the key technical level (see chart) and a clean break above there will usher in a swift test of parity. Support levels should be quite strong now near .9525 where a trend-line converges on previous highs. Short-term charts… Read more

The 50% Fibo retracement from 1.0580/.8850 comes in near .9715 and the market is respecting this level and it’s attracting some profit takers (see chart). The 200-DMA sits near .9750 and this will also provide resistance. Short-term charts are exhibiting overbought tendencies and we may… Read more

The 50% Fibo retracement from 1.0580/.8850 comes in near .9715 and that continues to cap (see chart). The short term charts show prices topping out at present around .9680 and a break below .9630 could form a topping pattern of sorts, but again best to… Read more

The obvious technical target is the 50% retracement level at .9710 (see chart). The longer term charts suggest that a test of 1.000/1.0120 is likely so buying dips is the clear bias. Support levels start firstly at .9640 getting stronger at prior highs near .9525.