EURUSD

The Euro is pulling back from the 1.2660 region where it topped on yesterday and the downside may remain under pressure ahead of the ECB expected rate cut today. Hourly momentum is bearish at the time of this report and intra-day support is seen at 1.2540/55, backed by 1.2450/55 and 1.2330. Daily sentiment is bearish as well and yesterday’s rally of 200 points is not enough to confirm a momentum change. On the upside, intra-day resistance is formed into the 1.2660/75 region and a sustained break should favor further gains towards next important barrier emerging at 1.2880. Important resistance zone is formed within the 1.2990-1.3100 zone but potential rallies on a short-term basis will probably be limited by the 1.2880/00 barrier, keeping the 1.3 region safe. Current quote is 1.2609 @07:10 GMT

Support levels: 1.2540/55, 1.2450/55, 1.2400/15 and 1.2330.
Resistance levels: 1.2660/75, 1.2750, 1.2880/00 and 1.2990/00.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish

Yesterday recommended trade: small short at 1.2640, initial stop at 1.2680, objective at 1.2540. Adjust stop to breakeven on +30 pips (at 1.2610) if reached : 0 (target/stop not reached)

AUDUSD

The Aussie Dollar rallied on yesterday but became overbought and failed to re-test the important resistance on the .6550 mark. A resume of the intra-day uptrend is possible today, if support into the .6375-.6405 region will be confirmed. Below the said support zone, a potential decline may extend back towards the .6285 lows. Daily studies are slightly bullish but a full confirmation of current’s uptrend will be valid only by clearing out the .6550 upside barrier. Current quote is .6424 @07:10 GMT

Support levels: .6405, .6375, .6330 and .6280/90.
Resistance levels: .6550, .6650 and .6730
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish

Yesterday recommended trade: stand aside

EURCHF

The pair continues to trade sideways, below short-term resistance of 1.4850/75. Daily sentiment is slightly bearish and a break above 1.4930 is needed to confirm a change. On the lower side, support is seen at 1.4750/60 backed by 1.4700 and 1.4650. Intra-day studies are slightly bullish at the time of this writing and a re-test of yesterday’s top at 1.4830 seem possible. Above the said barrier, next bullish objective is set at 1.4930. Current quote is 1.4785 @07:10 GMT

Support levels: 1.4750/60, 1.4700 and 1.4650.
Resistance levels: 1.4830, 1.4875, 1.4930 and 1.5010.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish

Yesterday recommended trade: small short at 1.4930, initial stop at 1.4970, objective at 1.4860. Adjust stop to breakeven on +30 pips (at 1.4900) if reached : 0 (entry not reached)