EUR Trading Outlook
AUD/USD: Asian sellers are touted above 0.91 and the 200 DMA & TL off April's high should continue to weigh on the pair. However, a return above 0.91 cannot be ruled out. A break of 0.8980 or 0.9150 would give better indication for the pair, otherwise, range trades still hold.
EUR/USD: Bearish sentiment increased for EUR/USD as price closed below 21 DMA and bull channel base. Downward biased day/week RSIs add to the bearish outlook. If the pair fail to close near or above 1.3850 then it will more likely to test support at 1.3700. Consumer confidence will be due tomorrow, a poor data will give bears more confidence.
AUD/USD: AUD bears pierced the 200 hour MA, hitting a low of 0.9020. Little bounce was seen. Bears are fighting back as daily and weekly RSIs diverge on the new trend high set overnight and the pair is back below 21 week MA. Immediate support comes from the 21 DMA and March 13 low.
EUR/USD: Key support near 1.3830 was breached and stop below it were run. The pair continued to test near the 21 DMA (1.3805) as it hit a low of 1.3810. A break below the 21 DMA would increase the chance of testing 1.3700 levels.
AUD/USD: Bulls remains in game for now, targeting 0.9150, a break would form a new up trend. Upward biased day/week RSI and widening spreads may aid in bulls taking complete hold of AUD. A break above the current resistance zone opens a test of 0.9205/15 (50% Fib of 0.9758-0.8660, late Nov high).
EUR/USD: German ZEW had the pair dropped to a low of 1.3880. However, Putin's speech was considered as positive and spiked the yen crosses immediately. EUR/JPY rallied from below 140.80 to 141-81 in no time but was unable to break 141.95 resistance. Reports showed Ukrainian military base being fired upon erased much of EUR's early gains.
AUD/USD: Weekly chart showed room for the pair to run to 0.9209 (Kijun/50% Fib) after a weekly close above 38.2% of the Oct-Jan slide at 0.9079. 200-DMA is at 0.9151. AUD/NZD's by 45-yr range base.
EUR/USD: Range trading for the pair 1.3887/1.3948. Resistance still holding at 1.3970 with plenty of supply 50/500. Italy's PM visted with Merkel & floated a less austere budget plan that would raise the deficit to 2.9% of GDP.
AUD/USD: The pair sat just above 0.9020, the pair's inability to hold above the 21 WMA and 38.2 Fib of 0.9758-0.8660 for two consectuve weeks could be a warning for bulls.
EUR/USD: The pair is still holding strongly above 1.3900 but if tensions in Crimea continues to increase, could add pressure on the pair. Pivot at 1.38700 and resistance at 1.3970.
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