Fx Analysis 03/25/2009

March 25, 2009 by hyiperz

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Forex Forecast for EURUSD Currency
The Euro continued to retrace on yesterday, testing bids into the 1.3430 zone, switching focus towards bearish objective at 1.3330. Minor support is formed into the 1.3415/30 zone backed by the more important barriers at 1.3330, 1.3240 and 1.3095/00 - February’s top - lower. On potential rallies, the Euro will face resistance at 1.3600 then higher, at 1.3740/50 and 1.3855. Downside will probably stay under pressure for now and a break above 1.3600 is needed to resume uptrend. Intra-day studies are bearish at the time of this writing. Current quote is 1.3473 @07:10 GMT

Support levels: 1.3415/30, 1.3330, 1.3240 and 1.3095/00.
Resistance levels: 1.3600, 1.3740/50, 1.3800 and 1.3855.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bullish

Forex Forecast for AUDUSD Currency
The .6950 intra-day support is under pressure at the time of this writing but the daily sentiment remains bullish as there is enough room on the downside for an extended correction. Below .6940/50, subsequent downside barriers are seen at .6900, .6850 - February’s high - and .6700 which has to remain stable in order to maintain the short-term bullish structure intact. Intra-day momentum is bearish at the time of this report. Current quote is .6966 @07:10 GMT

Support levels: .6945/50, .6850 and .6700.
Resistance levels: .7000, .7100, .7135 and .7265.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish

Forex Forecast for EURCHF Currency
The Euro continues to advance lower vs the Swiss Franc, testing the interim support on the 1.5200 handle. Below 1.5200, next important objective emerges at 1.5010 - the 50% retracement of the 1.4575-1.5445 up leg. On the upside, resistance starts at 1.5290/00 followed by 1.5400 and 1.5420/50. Above 1.5290, uptrend resumes. Downtrend is slightly favored for now. Current quote is 1.5240 @07:10 GMT

Support levels: 1.5200, 1.5150/90 and 1.5000/10.
Resistance levels: 1.5290/00, 1.5420/50, 1.5500/30 and 1.5590.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish

Source: FxStreet

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