EURUSD, AUDUSD, EURCHF Daily Outlook

Daily Forex Technicals | Written by E-Forex | Dec 02 08 08:09 GMT |

EURUSD The Euro lacks direction and continues to consolidate into the 1.2580-1.2690 range. Since the decline below support at 1.2810, short term studies are slightly bearish, favoring more downside action. First intraday support is eyed at 1.2580 and a potential break may encourage further selling towards the 1.2420-1.2460 support zone. Short term support is formed around 1.2460 by a rising trendline started at 1.2330 on October 28, extended through the lows of November. On the upside, resistance starts at 1.2690, followed by 1.2765 and 1.2810. Current quote is 1.2632 @07:40 GMT Support levels: 1.2580, 1.2500, 1.2460 and 1.2420. Resistance levels: 1.2690, 1.2765 and 1.2810. Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish AUDUSD Support at .6345 formed by the 50% retracement of the .6075-.6615 still holds but is under heavy pressure. A sustained break will provide the confirmation on a potential reversal, resuming downtrend. Resistance is seen at .6435 followed by .6540 and .6600. Support backs .6335 at .6280 and .6170. Current quote is .6374 @07:40 GMT Support levels: .6345, .6280 and .6170. Resistance levels: .6435, .6540 and .6600. Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish EURCHF Important support is seen at 1.5120, the 50% retracement of the 1.4713-1.5530 move. While the said barrier holds, current decline seem corrective in nature. Resistance starts at 1.5220 followed by 1.5270 and 1.5330. Current quote is 1.5199 @07:40 GMT Support levels: 1.5160, 1.5120 and 1.5025. Resistance levels: 1.5220, 1.5270 and 1.5330. Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish E-Forex Legal disclaimer and risk disclosure Past performance does not guarantee similar performance in the future. Our forecasts do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any foreign exchange transaction. E-Forex.ro accepts no responsibility or liability whatsoever for any expense. We do not warrant or guarantee the accuracy, timelines or completeness to the service or informations you find here.