EUR Trading Outlook
AUD/USD: The pair initially dropped below the 200 hour MA into intra-day support near 0.8960 as USD strength was shown across the board. However, this did not last long and AUD steadily climbed higher. Current resistance at 0.9000/10, a break above there will be testing previous resistances at 0.9050/60 and major resistance of 0.9080/0.91.
EUR/USD: The pair drove down to the support of 1.3700/10 support due to headline stating Russian forces seized two Ukranian missile units. Real money buyer recovered the slide to around 1.3730 in NY open. The pair held at 200 hour MA at 1.3725-40 range ahead of ECB. Traders may look to the 2016 staff projections for inflation, a lower projection may send EUR downwards.
AUD/USD: With the direction being unsure, the pair is sitting between 55 DMA on the bottom and the 10 & 21 DMA on top. A break out may due from today's data as mentioned above if it comes in poor.
EUR/USD: EUR/USD spiked to a high of 1.3782 after Putin stepped back from using military force on Ukraine and ordered troops back to base. Consolidation of recent gains is more likely to hold ahead of ECB and current trend remain bullish. If ECB fails to act and Ukraine tensions ease further then more likely to see the pair test 2013 high.
AUD/USD: The pair broke through 55 DMA but was unable to break through 0.8880/ 0.8890 as exporters heavily bid on it. Range trading still in play, a break through either 0.8880 or 0.9080 is needed for further action.
EUR/USD: After the pair dropped from concerns in Crimean, the pair was able to rally back to a high of 1.3792. However, ECB Draghi's comment made the pair fell all the way down to low 1.3725 as he stated " the longer inflation stays down, the greater the risk it won't go back to 2%" The pair pierced the 200 hour MA and tested bids at levels from pre-EZ inflation data, little bounce was seen through the pair at the moment.
AUD/USD: Range trade still in play, current support at 0.8880-0.8900, market will be focusing on HSBC PMI, a poor data could break through support, testing 0.8830.
EUR/USD: Once again, all focus are Ukraine & Russia issue, which led to a gap lower in Asia open to a low of 1.3753. However, a better than expected CPI from last friday helped the pair pushed above 1.3800. Major resistance at 1.3865/95, if this breaks, we will see little resistance until 1.4255.
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