EURUSD, AUDUSD, EURCHF Daily Outlook

Daily Forex Technicals | Written by E-Forex | Mar 10 09 07:48 GMT |

EURUSD The Euro extends rally to session highs into the 1.2720 region, eyeing Friday's top at 1.2750. Daily momentum is slightly bullish but a confirmation of the uptrend will occur on a sustained break above the 1.3 mark. Intra-day studies are bullish and a break above 1.2750 may boost the Euro to as high as 1.2880 where next important resistance is formed by the downward trendline extended through February's highs. On the lower region, support is emerging at 1.2660 backed by 1.2555/85 and 1.2455/80. While holding above yesterday's low into the mid 1.25, short-term momentum will remain slightly positive and potential rallies above 1.2750 will be favored. Current quote is 1.2691 @07:10 GMT Support levels: 1.2660, 1.2555/85 and 1.2455/80. Resistance levels: 1.2750, 1.2830, 1.2880/00 and 1.2990/00. Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish AUDUSD The Aussie Dollar keeps looking for direction and trades into the fragile range of .6280/00 - .6450/80, around 100 points away from the current year's bottom at .6245. On a short-term basis, the pair maintains a bearish stance and below the key support at .6245, a decline may easily extend towards .6010-.6080. Risk of more downside action is high while below median resistance formed at .6550/65. Above the said level, momentum should turn positive, encouraging further strength to .6850-.6900. Current quote is .6385 @07:10 GMT Support levels: .6305/30, .6280 and .6250. Resistance levels: .6450, .6550, .6650 and .6730 Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bearish EURCHF The EUR extends weakness against the Swiss Franc and last week's low at 1.4575 is under pressure. A break below 1.2575 will be extremely bearish for the EUR as the collapse may extend lower to the record low at 1.4300. On the upside, resistance starts at 1.4660 and it is followed by 1.4750 and 1.4830. Current quote is 1.4611 @07:10 GMT Support levels: 1.4550/75, 1.4500, 1.4400 and 1.4300. Resistance levels: 1.4660, 1.4750 and 1.4830. Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish 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.