EURUSD, AUDUSD, EURCHF Daily Outlook

Daily Forex Technicals | Written by E-Forex | Aug 12 08 06:38 GMT |

EURUSD

The Euro continues its decline as the US dollar rallies across the board. Important support at 1.5 and 1.4920 has been passed by, not being able to limit the downside. Next support levels formed at 1.4820 and 1.4695/00 are pressured as the decline may continue, aiming towards the 1.4470 region within the next days. Both intraday and short term studies are bearish and there are no clear signs of a potential retracement yet. On the upside, near term resistance emerges at 1.4920 and 1.4950/60. Current quote is 1.4820 @06:10 GMT

Support levels: 1.4820, 1.4750 and 1.4695/00
Resistance levels: 1.4920, 1.4950/60 and 1.5010.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish
AUDUSD

Next support is seen at .8680/85 backed by .8550 and .8505 while on the upside, resistance is seen at .8840 and .8950. The 50% retracement of the .7675-.9854 move at .8764 failed to hold and a daily bar close below the said level will weaken the Aussie dollar even more. Focus remains on the downside, aiming towards the .85 region. Current quote is .8740 @06:10 GMT

Support levels: .8700, .8680/85 and .8550.
Resistance levels: .8765, .8840/50, .8950 and 9050/60.
Market sentiment: long-term : bullish, mid-term : bearish , short-term : bearish
EURCHF

Key short term support at 1.6170 holds so far but yesterday's failed attempt to rally towards the 1.6250 region provides are bearish view on current market conditions. Important trendline support seen at 1.6130/35 attracts the market and the support at 1.6170 may be cleared soon. Above 1.6250 resumes uptrend but potential rallies are likely to be sold. Current quote is 1.6190 @06:10 GMT

Support levels: 1.6170, 1.6135 and 1.6060.
Resistance levels: 1.6220, 1.6245/50 and 1.6275/80.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish

E-Forex

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